The Australian dollar is back above 73 US cents, after higher-than-expected US core inflation data and speculation that the European Central Bank could bolster its quantitative easing program.
Gold prices have fallen after reaching a three and a half month high on Thursday as a stronger-than-expected reading of US inflation drove the dollar index.
Oil prices have fallen for the fourth straight day as the United States reported an increase in already high crude-oil stockpiles, adding to concerns about the global oversupply.
The Australian share market has made modest gains on expectations that weak economic data from the US and disappointing jobs numbers in Australia will keep interest rates low.
The unemployment rate in Western Australia was unchanged at 6.1 per cent in September, however it disguised a fall in employment as the number of people working fell by over 9,000 during the month.
Western Australia's financial health is suffering from a multi-billion dollar revenue hit because of falling commodity prices and China's economic slowdown.
Crude oil prices have dipped, extending the prior day's steep falls, as traders considered an IEA prediction that the global oversupply will continue next year.
Gold prices are up recovering an earlier one per cent slide that was made on expectations the Federal Reserve will not lift US interest rates this year.
A senior Reserve Bank of Australia official has given an upbeat assessment of the Australian economy, confident that it is strong enough to resist a significant downturn.
Gold rose to its highest level since early July as expectations that the Federal Reserve will postpone an expected US interest rate hike beyond the end of the year.
The Australian dollar has hit an eight week high against a weaker US dollar on diminishing hopes of a US interest rate rise before the end of the year.
Slowing trade with China and Japan has contributed to a10 per cent fall in Western Australian merchandise exports for August, compared with the same period last year.
Oil has edged up in New York and slipped in London as traders book profits from the week's rally fuelled by hopes for oversupply relief from lower US crude production.
