The Australian share market has advanced in early trade, despite a weak close last week on Wall Street, as investors look to build on gains from the past three weeks.
Oil has fallen just over one per cent as players took profits on a rally over the past week that propelled prices nearly 15 per cent to four-month highs on hopes of OPEC crude output cuts.
Gold has fallen for the ninth straight session, briefly tapping a four-month low as computer-generated selling offset support from weak US payrolls data, but bullion was on track for its biggest weekly drop in more than three years.
No more rate cuts: MorrisonTreasurer Scott Morrison has emphatically signalled he opposes more interest rate cuts by the Reserve Bank of Australia, arguing monetary policy
The share market has ended the week with a fall as markets wait for the latest US jobs data that is likely to influence the timing of an expected US rate hike.
Gold fell for the eighth straight session on Thursday, slipping to a four-month low, pressured by a stronger dollar after U.S. weekly jobless claims fell and ahead of key data that could put the Federal Reserve on track to raise interest rates this year.
Oil rose more than 1 per cent to four-month highs on Thursday, spurred by another informal OPEC meeting on output cuts and plunging U.S. crude inventories, with some saying the market has overshot itself with a near 15-per cent gain in seven sessions.
Liberal insiders waged a bitter war against CBAFormer attorney-general Philip Ruddock played a central but hidden role in a campaign orchestrated by three Liberal Party br
One Nation Senator Rod Culleton has attacked the judiciary in a press release after his latest court loss, demanding the civil matter be heard by a jury.
Gold is little changed with the US dollar paring gains, after bullion inched down to the lowest in more than three months following the previous day's sharp sell-off and a technical break well below the key $US1,300-an-ounce level.
Oil prices have settled up about two per cent, hitting their highest since June, after the fifth unexpected weekly drawdown in US crude inventories added to support on hopes that major producers will agree to cut output next month.
IMF warns nation on debt ‘binge'Global public and private debt has blown out to a record $US152 trillion ($199 trillion) and Australian households are bingeing on borrowed
The share market recovered some of its early falls but still closed in negative territory as sentiment remained subdued on strengthened expectations of a rate hike by the US Federal Reserve.
One Nation Senator Rod Culleton has again failed in his bid to challenge a three-year-old court judgment ordering him to pay $205,000 in damages to former Wesfarmers director Dick Lester.
The Australian dollar is half a cent lower against its US counterpart after risk sentiment soured on the back of a report saying the European Central Bank would taper its bond buying program.
Gold has slumped more than three per cent, reaching its lowest price since Britain's shock vote to leave the European Union in June, as the US dollar has rallied after upbeat US data.
Oil has settled slightly lower in choppy trade as a surging US dollar and anticipation of higher US crude stockpiles offset optimism about planned OPEC output cuts that initially took Brent to four-month highs.
Regulating profits ‘dangerous'Commonwealth Bank of Australia chief executive Ian Narev has warned politicians against regulating bank profitability while
The Australian share market is lower, reflecting the weakness in global markets overnight and nervousness by investors ahead of the Reserve Bank's decision on local rates.
Oil has risen more than one per-cent, with Brent settling above $USUS50 a barrel the first time since August and US crude hitting three-month highs, after Iran exhorted the need for other oil producers to join OPEC in supporting the market.
Gold prices have slipped as the US dollar gained on stronger-than-expected US manufacturing data and investors awaited jobs data later this week for clues about whether US interest rates would rise by the year-end.
The Australian dollar is slightly higher against the US dollar on increased risk appetite, with the Reserve Bank of Australia widely expected to keep the cash rate on hold later on Tuesday.
Jail time for rate riggersThe federal government will introduce criminal penalties and new regulations to prevent the manipulation of the bank bill swap rate, an alleged p
Strong gains among financial and energy stocks have driven the share market higher despite lower trading volumes as most states break for a public holiday.
