Share prices in Australia are expected to fall for the first time in nine sessions when the market reopens on Monday.
The downward trend was indicated in futures trading with the S&P/ASX 200 June share price index contract priced seven points lower than the previous settlement at 8,360 at the time of writing.
This was despite a positive example being set on Wall Street on Friday (Saturday AEST) with the Dow Jones Industrial Average rising by 0.8%, the S&P 500 gained 0.7% and the Nasdaq Composite adding 0.5%.
The fifth consecutive day of higher prices was driven by optimism about an improving trade relationship between the United States and China, which offset concerns about American economic data.
The Australian sharemarket closed 0.6% higher at 8,343.7 points on Friday.
In economic news, the Reserve Bank (RBA) Board begins a two-day monetary policy meeting amid expectations of another interest rate cut of at least 25 basis points.
Companies to watch on the ASX include Gentrack (ASX: GTK), which announced half-year earnings, and Macquarie Group (ASX: MQG), which trades ex-dividend.
On the fixed interest markets, the Australian Government bond yield curve steepened as 10-year rates rose by 0.76% to 4.450% and two-year rates eased by 0.96% to 3.595%.
