The Australian share market is expected to open lower after US stocks fell almost one per cent, after the release of disappointing US retail spending data and worries about US-China trade relations.
At 0700 AEST on Wednesday, the Australian share price futures index was down seven points, or 0.11 per cent, at 6,093 points.
In the US, stocks fell after the latest retail sales data showed spending was growing at a slower rate, while trade worries lingered with no signs of progress in US-China talks.
The Australian share market on Tuesday closed lower, suffering losses across most sectors, including sharp falls in the telco sector following Telstra's earnings warning. .
The benchmark S&P/ASX200 was down 37.5 points, or 0.61 per cent, at 6,097.8 points, while the broader All Ordinaries index was down 36.3 points, or 0.58 per cent, at 6,198.7 points.
In economics news on Wednesday, the Australian Bureau of Statistics releases its wage price index for the March quarter, and the Westpac Index of Consumer Sentiment for April is due out.
In equities news, department store giant Myer releases its third quarter sales, and Coca-Cola Amatil hold its annual general meeting.
On Wednesday morning the Australian dollar followed US stocks and base metals prices lower.
At 0700 AEST, the local currency was worth 74.73 US cents, from 75.18 US cents on Tuesday.
CURRENCY SNAPSHOT AT 0700 AEST:
One Australian dollar buys:
* 74.73 US cents, from 75.18 on Tuesday
* 82.45 Japanese yen, from 82.58 yen
* 63.12 euro cents, from 63.01 euro cents
* 55.33 British pence, from 55.45 pence
* 108.89 NZ cents, from 108.77 cents
The spot price of gold in Sydney at 0700 AEST was $US1,291.30 per fine ounce, from $US1,311.90 per fine ounce on Tuesday.
BOND SNAPSHOT AT 0700 AEST:
* CGS 5.75 per cent May 2021, 2.199pct, unchanged from Tuesday
* CGS 2.25pct May 2028, 2.8302pct, unchanged
Sydney Futures Exchange prices:
* June 2018 10-year bond futures contract was 97.105 (implying a yield of 2.895pct), from 97.160 (2.840pct) on Tuesday
* June 2018 3-year bond futures contract was 97.735 (2.265pct), from 97.760 (2.240pct)
(*Bond market closes taken at 1630 AEST previous local session; currency closes taken from 1700 AEST previous local session)