The Australian market looks set to open slightly lower, with no direction from Wall Street which was closed for a public holiday.

The SPI is trading at 5407, down 5 points.

Locally, in economic news, the Reserve Bank of Australia will release financial aggregates for April, while the Australian Bureau of Statistics is due to release the balance of payments and international investment position figures plus government finance statistics, both for the March quarter, and April building approvals data.

ANZ-Roy Morgan weekly consumer confidence survey is also due out.

In equities news, Boart Longyear has its annual general meeting in Adelaide. In Australia, the market on Monday closed flat following a lacklustre performance from the heavyweight banks and mining stocks.

Key Numbers

• The SPI is trading at 5407, down 5 points.
• AUD +0.06% to US71.86¢
• Wall Street was closed due to the Memorial Day holiday
• In Europe, Stoxx 50 +0.1%, CAC +0.3%, DAX + 0.5%; London closed
• Spot gold -0.6% to $US1205.30 an ounce at 6am Sydney time
• Brent crude +0.9% to $US49.76 a barrel at 6am Sydney time
• Iron ore -1.7% to $US50.27 a tonne at 6am Sydney time.

What’s on today

Local: April building approvals; First-quarter net exports and government spending (GDP components); Balance of payments current account balance (Q1), ANZ/Roy Morgan weekly consumer confidence

Overseas data: US personal income, spending and PCE deflators, S&P/Case-Shiller 20-city home-price index, Consumer confidence; German CPI, Eurozone unemployment and CPI; Japan jobless rate, household spending, industrial production, and small business confidence;

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