The local share market fell today on thin trading volume ahead of US job data due to be released tonight.

The Finance sector has been the major drag on the market with all four banks trading lower. Investment bank Macquarie Group also snapped its recent gains falling along with its peers.

On the other hand, AWB and Elders Ltd were both trading higher on the back of expectations that wheat prices will surge due to serious drought problems in Russia, which is the world's third largest wheat producer.

On the currency market, the US dollar is trading steady against other major currencies. After falling to its two month lows, the greenback is looking for indication to determine its direction. There is growing speculation that the US Federal Reserve may need to spur the economy given the most recent economic data. All eyes will be on the US jobs data due out tonight.