The Reserve Bank of Australia has kept the cash rate at a record low 0.25 per cent at its monthly board meeting as it assesses the extent of recovery after the coronavirus-driven economic downturn.
Shares have gained about 1.0 per cent early in trade on the Australian market after solid gains on Wall Street overnight following a rebound in US services industry activity.
Oil futures ended largely steady overnight as positive economic data supported prices, while a spike in coronavirus cases in the United States that could curb fuel demand pressured prices.
Gold overnight edged towards a near 8-year high hit last week as a spike in coronavirus cases kept safety demand elevated, although robust equities and positive US services sector data limited the metal's advance.
Hopes of a sellout 60,000 crowd for the July 19 western derby is under threat after the state government announced it is considering delaying the relaxation in COVID-19 restrictions.
The Australian share market has snapped its four-day winning streak, bypassed by broader gains in the Asia-Pacific region including a big rally in China.
Australia's recycling industry is on the brink of an overhaul as the federal government hopes to create more than 10,000 jobs through a $190 million fund.
Cinema and hotel operator Event says a majority of its cinemas in Australia and New Zealand have now reopened after being closed since March due to COVID-19 restrictions.
Shares have edged lower early on the Australian market after global markets closed weaker last week on concerns about continuing growth in COVID-19 cases in the US.
Oil fell below $US43 a barrel on Friday as a resurgence of coronavirus cases raised concern that fuel demand growth could stall, although crude was still headed for a weekly gain on lower supply and wider signs of economic recovery.
After commuting thousands, if not millions of kilometres from his home in Perth to Canberra since 2007, Finance Minister Mathias Cormann is calling it a day.
Indigenous leaders and governments are close to reaching a deal on new targets to improve the health, education and job prospects of Aboriginal and Torres Strait Islander people.
Oil futures gained more than 2 per cent overnight, supported by a drop in US unemployment and a drawdown in crude inventories, but a resurgence in US coronavirus infections fanned concerns that economic activity will weaken in coming weeks.
Gold reversed course and edged higher overnight as the US dollar eased, though the metal traded below an eight-year peak hit in the last session as prospects for economic recovery improved after data showed the US economy created record jobs in June.
The Australian stock market has hit its highest level since June 11, with gains across the board as Afterpay continued its stunning run by soaring 9.5 per cent to a new all-time high.
Shares in SRG Global closed up nearly 30 per cent today after the company forecast strong 2021 financials and brought forward its previously-deferred interim dividend.
Shares in Kathmandu have jumped after the outdoor wear retailer outlined a strong recovery in sales since reopening stores in May after coronavirus restrictions were eased in Australia and New Zealand.
Qantas retail shareholders are being offered a 2.5 per cent discount in a share purchase plan that will raise $500 million to help the airline navigate the virus crisis.
Oil prices rose more than 1 per cent overnight following a drawdown in US crude inventories from record highs and a string of positive manufacturing data, but a surge in coronavirus cases tempered gains.
Gold dropped from a near eight-year high overnight as equities gained on the back of encouraging US manufacturing data and rising hopes for a potential COVID-19 vaccine.
