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The outperforming Australian dollar has soared almost one US cent as its counterpart has fallen after US president Donald Trump disbanded two business advisory councils and following Federal Reserve committee minutes.
Oil prices have fallen more than one per cent even though US crude stockpiles declined by the most in a year, as data suggesting domestic production was edging higher stoked worries about the global crude glut.
Gold has risen about one per cent, shaking off two days of losses, as the dollar edged lower after the release of the minutes from Federal Reserve's July meeting at which policymakers voted unanimously to keep US interest rates unchanged.
Seven West Media chief executive Tim Worner has wrapped up a controversy-laden year with a pay cut as the company suffered a $744 million loss, courtesy of persistent weak ad revenues and a massive writedown on its broadcast licences.
Gold has fallen nearly per cent, down for a second day after better-than-expected US economic data and easing tensions over North Korea encouraged investors to buy riskier assets, boosting stocks, the US dollar and bond yields.
Oil prices have tumbled more than 2.5 per cent in volatile trade, as US dollar strength and weak domestic demand data in China hammered prices that had received a short-lived boost on concerns about potential reductions in crude supply from Libya.
Commonwealth Bank of Australia chief executive Ian Narev will step down by the end of June after Australia's largest bank decided to deal with speculation over his position following allegations the lender breached money laundering and terrorism-financing laws.
Gold prices have climbed to two-month highs, rising for the fourth straight day as investors sought refuge amid escalating tensions between North Korea and the United States, while bullion also received support from weak US inflation data.
Car maker Ford's Australian business is facing legal action for allegedly giving customers the bum steer about ‘systemic issues’ concerning transmissions in several of its models, and blaming drivers for the problem.