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Palladium slumped about seven per cent overnight in its biggest daily percentage drop in more than two years while gold also fell as strong US data improved investors' appetite for riskier assets ahead of the US Federal Reserve policy meeting.

Western Australia's economy has been performing well below its long-term average but is showing signs of increasing economic momentum with growing exports and $73 billion of projects underway or under consideration, according to two new reports.

An independent candidate for former foreign minister Julie Bishop's safe seat claims she is the victim of a "supposed hoax" involving fake opinion polling data and has refused to pull out of the election race.

OPINION: Muffled by the drumbeat of election campaigning as Australia heads towards its May 18 poll is a more sinister noise, demands for a big cut in interest rates, or the dumping of “helicopter” cash on the community – or both.

Prime Minister Scott Morrison has promised 1000 shipbuilding jobs at Henderson, and opposition leader Bill Shorten has pledged $75 million towards mining exploration, ahead of their debate tonight in Perth.

Oil prices fell three per cent on Friday after US President Donald Trump again pressured the Organisation of the Petroleum Exporting Countries to raise crude production to ease petrol prices.

Gold jumped to a near two-week high on Friday as the US dollar slipped on tepid US inflation data, outweighing an overall strong first-quarter growth report.

Federal Labor is calling on Environment Minister Melissa Price to explain why she approved a controversial uranium mine in Western Australia the day before the national election was called.

Oil prices have eased after Brent touched $US75 per barrel for the first time in nearly six months on the suspension of some Russian crude exports to Europe as investors second-guessed the market's ability to rally further.

Gold has risen to its highest in more than a week, supported by a slight retreat in the US dollar and a pullback in global equities as demand for riskier assets cooled.

Consumer confidence has hit its highest point since December after last week's strong jobs data.

Oil prices have hit their highest in about six months as sources said Gulf OPEC members were ready to raise output only if there was demand before offsetting any shortfall following a US decision to end waivers for buyers of Iranian crude.

Gold has slipped to a near four-month low as the US dollar gained and investors sought out riskier assets, dampening the safe-haven metal's appeal.

Debate around the selection of Huawei to roll out the communications network for Metronet is just an example close to home of how the western world is grappling with the rise of the Chinese company as a technology powerhouse.

South Korea should join Australia and 10 other nations in the second generation Trans-Pacific Partnership, according to Perth USAsia Centre chief executive Gordon Flake.

The state government is assessing the construction of an extra rail link over the Swan River, as part of a new Fremantle traffic bridge, after committing to the $230 million project.

Crude oil jumped almost three per cent Monday after the United States said it would take more steps to choke off Iranian oil exports, while US equities were mixed as Wall Street braced for corporate results in a busy earnings week.

US stocks have ended a low-volume trading session little changed, with the biggest gains in the energy sector as investors otherwise stayed on the sidelines ahead of quarterly earnings.

Western Australia's unemployment rate has increased by 0.1 per cent taking it to 6 per cent in March, making it 1 per cent higher than the national average of 5 per cent.

The state government will outlay $131.5 million of additional funds for the Department of Primary Industries and Regional Development (DPIRD) in the upcoming budget.

Crude have prices declined slightly as US government data showed inventories drew down less than an industry report had suggested on Tuesday.

Gold has fallen again, holding near the 2019 lows touched in the previous session, as economic growth data from China assuaged concerns about global growth and drove investors into riskier assets.

US stocks have ended slightly lower as a drop in healthcare shares overshadowed a string of positive corporate earnings and upbeat economic data from the United States and China.

Huawei deputy chair Ken Hu has argued that moves by western countries to stop the Chinese company participating in rollout of next generation telecommunications technology will reduce competitive tension in the sector and hold back innovation.

Gold has dropped one per cent to its lowest level of 2019, as a string of robust economic data boosted demand for riskier assets like equities while bullion was further weighed down by gains in the US dollar.

Oil prices rose one per cent overnight as fighting in Libya and falling Venezuelan and Iranian exports raised concerns over tightening global supply, but uncertainty surrounding an OPEC-led production cut limited gains.

US stocks have ended slightly higher, with the S&P 500 inching closer to its all-time high following a string of mostly positive earnings, while a drop in healthcare shares limited the advance.

Oil prices have halted their rally, with both benchmarks down nearly one per cent, after Russia's finance minister said Russia and OPEC may decide to boost production to fight for market share with the United States, where output remains at record highs.

Gold fell to its lowest in more than a week as hopes the United States and China would reach a trade deal lifted appetite for riskier assets even as the dollar retreated.

Oil prices have risen one per cent as involuntary supply cuts from Venezuela and Iran plus conflict in Libya supported perceptions of a tightening crude market, while upbeat Chinese economic data eased concerns about waning crude demand.

Gold prices have inched lower, having posted the biggest daily decline in two weeks in the previous session, as the impact of a weak dollar was offset by gains on Wall Street.

OPINION: Both sides of politics are promising tax cuts ahead of the upcoming federal poll amid slowing global economy and sluggish consumer spending.