The Australian share market has reversed the previous session's gains in early trade with investors wary ahead of key local and overseas economic data.
Oil prices have settled at one-month lows after dropping more than three per cent on doubts about OPEC's ability to implement its planned production cuts, with the market further weighed by expectations that the cartel had record output in October.
The Australian dollar is fractionally lower against the greenback following mixed US economic data and as investors await the Reserve Bank of Australia's rate decision.
Wall Street has ended barely changed as investors digested the latest large-scale corporate mergers as well as the most recent twist in a tumultuous US presidential election.
Gold has steadied, coming off lows as the US dollar pared gains, though concerns over the outlook for the US election and Federal Reserve policy kept the metal pinned near the previous session's near-four-week high.
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The Australian share market is flat in early trade, with investors a little nervous ahead of the US presidential election on November 8 and awaiting any indication of a potential lift in US interes
Oil prices has settled below $US50, marking their biggest weekly loss in six weeks, on concerns OPEC will not fully carry out a planned output cut, even as data showed US oil drillers removed rigs from production for the first time since June.
Gold has risen one per cent to the highest level in nearly four weeks, extending gains late in the session after the FBI said it will further investigate Democratic presidential candidate Hillary Clinton's use of a private email system.
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The Australian share market is higher in early trade with gains in mining and energy stocks and a boost from Woolworths, which reported positive first-quarter sales growth.
Oil has settled higher, as commitments from Gulf OPEC members to cut production assuaged some lingering doubts in the market about cooperation from other producers.
Gold is little changed, pressured by a persistently strong US dollar as the market awaits more signs about the timing of an expected US interest rate rise from the Federal Reserve.
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Oil is down more than 1.5 per cent even after a surprise drawdown in US crude inventories, as traders remain cautious that OPEC would be able to cut production come late November.
Gold prices have fallen as investor appetite for riskier assets such as equities and crude oil have recovered slightly, denting demand for bullion, often considered a safe haven.
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A combination of investor caution ahead of key local economic data and downward cues from Wall Street has pushed the Australian share market into the red in early trade.
Gold has risen to an almost-three-week high as the US dollar retreated from multi-month highs and physical demand rose before India's late-October festival season.
Oil prices have fallen more than one per cent with US crude settling below $US50 per barrel for the first time in a week ahead of data likely to show a build in domestic inventories.
US stocks slipped from two-week highs on Tuesday as results and forecasts from companies in sectors, including housing and consumer products, failed to live up to expectations.
The Australian share market has closed higher, led by the financial sector, as investors start to feel bullish ahead of earnings reports from three of the big four Australian banks.
