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Australian shares have opened flat with investors remaining cautious following the news US Treasury Secretary Steve Mnuchin will visit China next week amid trade tensions between the world's two largest economies.
Oil prices rose on Wednesday despite data showing rising US inventories, holding within sight of three-year highs reached the previous day on geopolitical tensions including the prospect of fresh sanctions on Iran.
Perth's inflation rate was just 0.1 per cent in the March quarter, bringing the total increase in consumer prices in the past 12 months to just 0.9 per cent, well below the national inflation rate of 1.9 per cent.
State governments have approved more detailed design work on the National Energy Guarantee to proceed at a Council of Australian Governments energy ministers meeting today, although Labor state leaders still have objections.
AMP has had $1 billion wiped off its market value during a royal commission appearance in which the wealth management giant admitted to charging clients for advice they never received and then lying about it to the corporate watchdog.