Australian shares are expected to open slightly lower on Tuesday, despite Wall Street finishing in positive territory.
As of 7 am AEST, ASX futures were down 9 points, or 0.1%, indicating a modest decline.
In New York, the Dow Jones rose 0.2%, the S&P 500 climbed 0.3%, and the Nasdaq edged up 0.1%.
Investors in Australia will be focused on the Reserve Bank of Australia's (RBA) cash rate decision, with expectations that the central bank will keep rates on hold.
In the commodities market, gold reached a new high of $US2634.90 an ounce, marking a 27% rise for the year.
Copper prices also advanced amid renewed optimism about China's economic stimulus efforts. However, iron ore dropped below $US90 a tonne, and oil prices eased.
In the US, Federal Reserve officials indicated openness to future rate cuts, with Chicago Fed President Austan Goolsbee highlighting the central bank's focus on the labor market as inflation nears target levels. Goolsbee suggested that additional rate cuts may be forthcoming over the next year.
On the bond markets, 10-year and 2-year rates were at 3.957% and 3.614%, respectively.