AAP

Oil prices closed at their lowest in about a month overnight as renewed doubts over a US-China trade deal stoked concerns over global growth and on expectations that US crude stockpiles could hit fresh 19-month highs.

Gold prices gained overnight as stock markets weakened after a US threat to hike tariffs on Chinese imports renewed trade tensions and improved demand for safe-haven bullion.

The Australian share market has closed up slightly, having given up some of its gains following the Reserve Bank's decision to keep rates on hold for a record 33rd month.

The Reserve Bank of Australia has resisted temptation to cut the cash rate from its record low 1.5 per cent, but a move could still be on the horizon after it flagged concerns at the pace at which unemployment is falling.

Australia's trade surplus dropped four per cent in March, to a seasonally adjusted $4.95 billion.

Rio Tinto has agreed to buy a fleet of autonomous trucks and other mining equipment from Caterpillar for its new Koodaideri iron ore mine in Western Australia.

The Australian share market has opened higher thanks to a boost from the major miners ahead of the central bank's decision on interest rates.

Oil futures edged higher in volatile trade overnight as rising tensions between the United States and Iran buoyed prices after they touched a one-month low following US President Donald Trump's threat that he may raise tariffs on Chinese goods.

Gold edged up overnight as a slide in global share markets after the US government's threat of further tariffs on China prompted investors to favour safe-haven assets, but bullion's upside was capped by a firm US dollar.

Two tweets by Donald Trump have tanked the local bourse - along with markets around the globe - as investors worried the US-China trade war might not be so close to resolution after all.

The Australian share market has opened lower with investors apparently spooked by renewed concerns about the trade conflict between China and the United States.

Westpac has held its interim dividend despite the cost of refunding customers helping drag down first-half profit by 22 per cent to $3.296 billion.

Oil prices inched up on Friday as strong US economic data boosted demand sentiment and as production losses in sanctions-hit Iran and Venezuela tightened the market.

Gold was headed for its biggest daily rise in two months on Friday, clawing away from a four-month low hit in the previous session, helped by a pullback in the US dollar and as some investors covered their short positions.

Australian shares have finished flat as investors wait word on US jobs data.

Macquarie Group beat full-year profit guidance to reach a record, but its share price has slumped on a subdued outlook for the next 12 months.

Australian shares have opened higher led by gains in the health care sector.

Oil plunged overnight, with US crude dropping almost three per cent as the market grappled with oversupply fears as increased US sanctions on Iran had more gradual impact than expected and US crude oil inventories rose sharply.

Gold prices slumped to an over four-month low overnight after the US Federal Open Market Committee (FOMC) axed any hopes for a rate cut in the near term, subduing demand for the non-interest bearing bullion.

The Australian share market has closed lower, with the major banks losing much of their previous day's gains after NAB cut its dividend.

National Australia Bank has slashed its dividend to its lowest in almost nine years after posting a first-half cash profit of $2.95 billion.

Govermment funds earmarked for a biomass energy plant and solar farm at Collie have been transferred to a new $60 million job creation fund that aims to create a long-term future for the town as coal mining winds down in coming years.

Supermarket giant Woolworths has lifted third-quarter grocery sales by 4.2 per cent, reaping the benefits of lower deflation and more favourable weather conditions.

The Australian share market has opened lower after the major banks lost much of their previous day's gains following NAB's first-half profit announcement.

Gold prices dropped to a one-week low overnight as the US dollar rebounded after the Federal Reserve reduced expectations of a rate cut this year, with the safe-haven metal also pressured as the central bank signalled strong economic growth.

Oil futures ended little changed overnight after supply curbs, including further talk on an extension to OPEC-led cuts, offset rising US crude inventories and record production.

A strong first-half performance by ANZ has lifted the financial sector, pushing the Australian share market higher.

ANZ Banking Group has beaten expectations to lift first-half cash profit two per cent to $3.56 billion but warned subdued credit growth, competition and compliance costs will keep bank sector earnings under pressure "for the foreseeable future".

Australian shares have opened higher as the financial sector led gains after ANZ lifted its first-half profit

Oil prices pared their gains overnight, after global benchmark Brent crude rose above $US73 a barrel, as the market grew less worried that a rebellion against Venezuelan President Nicolas Maduro would hit the country's crude exports.

Gold prices firmed overnight as the US dollar slipped to a one-week low, making bullion more attractive, with investors awaiting the Federal Reserve's interest rate decision this week to gauge the outlook for US monetary policy.

The Australian share market has closed lower for a second day, dragged by the energy, mining and utility sectors.