Australian market to open lower

The Australian market is set to open lower as weak manufacturing data from the United States caused a fall on Wall Street.

However local shares could be boosted later on Tuesday if the Reserve Bank of Australia (RBA) cuts the cash rate by 25 basis points, as expected.

At 0714 AEDT on Tuesday, the December share price index futures contract was down 16 points at 4,534.

In economic news on Tuesday, aside from the RBA's December board meeting, the Australian Bureau of Statistics releases building approvals numbers for October.

The bureau will also publish the balance of payments and international investment position for the September quarter and government finance statistics for the September quarter.

In company news, retail owner Premier Investments holds its annual general meeting.

The share market finished at a near six-week high on Monday, buoyed by encouraging Chinese manufacturing data.

The benchmark S&P/ASX200 index added 25.5 points, or 0.57 per cent, to 4,531.5 and the broader All Ordinaries index gained 22 points, or 0.49 per cent, to 4,540.0.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9292+0.0005+0.05%
    AUDUSD=X
    0.55340.000.00%
    AUDGBP=X
    0.6722+0.0001+0.02%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg