AAP

A bright start for the ASX gave way to minor losses, but investors will hope talk of peace in Ukraine produces another rallying week.

Prime Minister Scott Morrison says his government is fully aware of the cost of living pressures Australians are facing and is promising a budget response.

Investors have enjoyed their best week on the Australian share market in more than 12 months, despite a US rate rise and war in Ukraine.

In a major speech two weeks out from the federal budget, Josh Frydenberg says the government will tackle the deficit while helping families with cost pressures.

There was no gloom on the ASX despite the US rate rise decision, and the Australian market closed higher for the third day this week.

The national unemployment rate is now lower than Western Australia's, with a rate of 4 per cent across the country slightly less than 4.1 per cent out west.

Australia's share market gained more than one per cent before an expected rate rise from the US Federal Reserve.

Plans to bring forward tax cuts for middle and high income earners to this year's 2022/23 federal budget could reportedly be shelved.

Motorists might welcome any easing of oil prices but investors watched falling commodity prices ruin any chance of ASX gains.

The federal government has plans for a $4.3 billion dry dock facility in Henderson, Western Australia, according to its latest pre-budget announcement.

Banks and healthcare giant CSL helped the ASX to its best day in six weeks as an expert tipped more investors to buy Australian value shares.

Two members of the federal coalition's junior partner have called for a cut in the fuel excise as petrol prices continue to climb above $2 a litre.

Investors moved the ASX lower after accepting US rates are almost certain to rise next week due to record inflation.

A day after the announcement of Guy Debelle's resignation, Reserve Bank governor says there are strong internal candidates for the deputy governor role.

Investors relieved by easing oil prices have pushed the Australian share market to its best gain in four weeks.

Some of Australia's biggest companies have opted into an emissions reduction reporting scheme that should show whether cuts match their public commitments.

The ASX200 had its strongest gains in three weeks despite an RBA warning that higher oil prices will increase annual inflation to four per cent this year.

RBA governor Philip Lowe has told a business conference inflation could reach four per cent-plus as a result of the Ukraine war and the floods in Australia.

The ASX200 dipped below 7000 points for the first time since the early stages of the Ukraine war, while the US and European allies discuss banning Russian oil imports.

Australians are back on the move and buying homes again following the end of COVID-19 restrictions.

Australian shares' longest winning streak of the year has unravelled after lofty commodity prices, pushed higher by fears over Russian supply, finally eased.

Australian superannuation funds are being urged by the treasurer to divest Russian assets and join the government in putting a squeeze on Vladimir Putin.

Investors are enjoying the longest winning streak of the year on the ASX as energy and materials shares keep rising due to economic sanctions on Russia.

Political leaders are making up for lost time in WA as the state's hard-border measures are eased after almost two years.

US President Joe Biden has thanked Australia's efforts to combat Russian aggression in Ukraine in his inaugural State of the Union address.

Shares on the ASX are on their longest winning streak this year as the Russia-Ukraine war lifts commodity prices along with energy and materials stocks.

Exxon Mobil has become the latest major Western energy company to quit Russia following Moscow's invasion of Ukraine.

Investors are betting the war in Ukraine will deter central banks from raising rates, as they moved the ASX higher for a third consecutive day.

Consumer confidence dropped 2.6 per cent in the past week as the war in Ukraine began and storms battered Australia's east coast.

The Australian share market has closed 0.7 per cent higher on the back of gains in mining stocks but investors remained cautious.

The Perth man accused of conspiring with former bureaucrat Paul Whyte to siphon more than $20 million from a government department has denied participating in the rort.

Retail spending in Western Australia jumped 4.7 per cent month-on-month in January, while interstate consumers showed some caution.