Gold has risen, nearing seven-week highs, as the US dollar fell to a 15-month low and US data showed fewer-than-expected new jobs in July, bringing into question chances of the Federal Reserve raising interest rates in the coming months.
The Australian share market has closed lower after mining and energy companies slid due to a plateau in commodity prices and the major banks lost ground.
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The Australian dollar has fallen slightly against its US counterpart after soaring above 80 US cents only minutes after the Reserve Bank of Australia left the official cash rate unchanged at 1.5 per cent.
Oil dropped about two per cent from a two-month high as major world oil producers kept pumping out supply, causing investors to worry that several weeks of steady gains had pushed the rally too far, too fast.
Gold prices rose to a seven-week high, after US economic data showed lukewarm inflation and nearly flat consumer spending, raising the question of whether the Federal Reserve will raise interest rates in the coming months.
The share market has gained ground as better than expected Chinese factory data and stronger commodity prices fuelled a rally in mining and energy stocks.
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The Australian dollar has crept higher against its US counterpart, hitting 80 US cents, as the US dollar slides around, most other major currencies tread water but commodity currencies slip.
Oil prices have risen to two-month highs, ending the strongest month of the year for crude futures, boosted in part by expectations of US sanctions against Venezuela's oil sector and as supply concerns have waned in recent weeks.
Gold has hit its highest in almost seven weeks, boosted by a struggling dollar and US economic data that cast doubt on whether the Federal Reserve will raise rates again this year.
The Australian share market has closed higher, led by mining and energy stocks, as investors took confidence from offshore markets ahead of the start of the local reporting season.
Perth-based Decmil Group has cut its full-year revenue forecast for the second time in six months and foreshadowed a trading loss in the second-half of the 2017 financial year, along with further impairments.
The Australian share market has slid in early trade, with investors turning cautious after a mixed lead from Wall Street and ahead of the start of the corporate earnings reporting season.
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Oil prices have risen to an eight-week high, as a rally in US petrol futures spurred further gains this week that came after key OPEC members pledged to reduce exports and the US government reported a sharp decline in crude inventories.
Gold has fallen from a six-week high, pressured by the US dollar's bounce on solid US economic data and as traders digested the Federal Reserve's Wednesday statement that showed it was closer to paring its balance sheet.
The Australian dollar has soared passed 80 US cents for the first time in over two years as diminished expectations for rate hikes in the US dented the greenback. The share market also rose as stronger iron ore and copper prices boosted mining stocks.
The Australian dollar has strongly rebounded against the greenback, hitting 80.06 US cents, on the back of a collapse in the US dollar, while the local share market has opened higher.
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Oil prices have risen to near eight-week highs, with Brent crude futures above $US50 a barrel, as a much steeper than expected decline in US inventories encouraged hopes the global crude glut would recede.
Gold has jumped 1 per cent to a six-week high on Wednesday, after the US Federal Reserve said it would start to wind down its massive holdings of bonds "relatively soon," pushing the dollar lower.
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