The Australian share market has trimmed its losses late in the session but still finished the day lower, while the Aussie dollar has touched its highest point in more than a week.
Oil prices fell overnight, with US crude futures down 2.0 per cent after manufacturing data raised concerns about a weakening global economy while the US-China trade dispute continued to drag on investor sentiment.
Gold rose more than 1.0 per cent overnight after weak manufacturing data from the United States reinforced fears of an economic downturn while uncertainties over US-China trade ties and Brexit further boosted bullion's safe-haven appeal.
Australian construction company Probuild has announced the appointment of Adam Barker as managing director for its Western Australian operations, while Sam Delmenico will move into a new role interstate.
Oil prices weakened overnight after new import tariffs imposed by the United States and China came into force, raising concerns about a further hit to global economic growth and demand for crude.
Gold rose slightly overnight after the United States and China imposed new tariffs, as expected, on each others' goods but a firmer US dollar limited gains.
Oil futures fell on Friday, with US crude down nearly 3.0 per cent ahead of a hurricane near the Florida coast that could dampen demand but prices were still headed for the biggest weekly increase since early July, boosted by an easing of US-China trade rhetoric.
Gold prices fell on Friday on a slight recovery in equities markets and Treasury yields but was on track for a fourth-straight monthly gain as fears of a global recession and uncertainty on US-China trade relations drove investors to safe havens.
US oil futures rose 1.7 per cent overnight, lifted by a deep draw on US crude inventories, especially at the benchmark's delivery hub due to increased demand with the start-up of two new West Texas pipelines.
Gold fell overnight as the US dollar rose and stock markets gained confidence with the latest positive development in the US-China trade deal but concerns over decelerating global economy kept prices hemmed near a multi-year peak.
The state government is to launch its long-awaited Asian engagement strategy today, with a broad conceptual push to align the regional trade with other key policies as well as a starting offer of up to $10,000 for 25 businesses to increase their capacity to win business in the neighbourhood.
Oil prices rose nearly 2.0 per cent overnight after a larger-than-expected decline in US crude stockpiles helped ease worries about weakening oil demand caused by the US-Chinese trade conflict.
Gold eased overnight as the US dollar strengthened and as investors locked in profit following a more than 1.0 per cent jump in the last session but uncertainty over the US-China trade dispute and the global economy kept safe-haven bullion near a multi-year peak.
The Australian share market has climbed modestly for a second day, buoyed by the tech sector, while the Aussie dollar has hit a 10-year low against its US counterpart.
Oil prices rose in volatile trade overnight supported by expectations of a drawdown in US crude inventories, though gains were capped by worries about a recession and uncertainty over a China-US trade deal.
Gold rose more than 1.0 per cent overnight as fears of a possible recession gripped investors following disappointing US economic data and the ongoing US-China trade dispute while silver breached $US18 for the first time in nearly two years.
