Equities investors will closely watch central bank decisions for a guide on interest rates direction as the second week of the financial year begins.
With United States stock markets closed on Friday for the Independence Day holiday, futures trading on the Australian Securities Exchange (ASX) indicates the Australian market has no option but to open flat on Monday.
The S&P/ASX 200 share price index (SPI) September contract was trading unchanged from the previous settlement at 8,583 points, at the time of writing.
The Reserve Bank of Australia (RBA) begins a two-day meeting to decide if, as is widely expected, it will cut official interest rates again, but there is less chance of a similar move in the U.S. this month.
The chances that the RBA will lower the rate by 25 basis points to 3.60% at the end of the meeting tomorrow are 97%, according to the RBA Rate Indicator.
The Australian share market closed at another high on Friday with the S&P/ASX 200 Index adding 7.20 points to 8,603.0 as prices increased 1% over the week.
In the meantime European share markets ended lower on Friday as banks and mining-related companies dropped in price as investors looked ahead to the deadline for trading partners to reach a deal with the United States, which is 9 July.
On the ASX today Collins Foods shares (ASX: CKF) trade ex a 15 cents per share final dividend.
On Australian fixed interest markets, 10-year Treasury bond yields rates dropped 0.45% to 4.193% while two-year bond yields rose 0.12% to 3.245%.