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Australian market set to open unchanged

The Australian market looks set to open virtually unchanged ahead of a speech by US Federal Reserve chairman Ben Bernanke.

At 0641 AEDT on Tuesday, the March share price index futures contract was down three points at 4,686.

No major economic news is expected on Tuesday.

In equities news, Rio Tinto is scheduled to release its fourth quarter operational review and the Australian Infrastructure Fund is to hold an annual general meeting and extraordinary meeting.

In Australia, the market on Monday closed higher after a day of consolidation with gains across most of the board, despite light trading.

At the close on Monday, the benchmark S&P/ASX200 index was up 10.2 points, or 0.22 per cent at 4,719.7, while the broader All Ordinaries index added 11.9 points, or 0.25 per cent, at 4,745.7.