The Australian market looks set to open higher after Wall Street rose as Federal Reserve Chair Janet Yellen painted a mostly upbeat picture of the US economy but gave little sense of when a rate rise may be coming.

The SPI is trading up 13 points, at 5376.

Locally, in economic news, the Reserve Bank of Australia holds its monthly board meeting and announces its interest rate decision.

The ANZ-Roy Morgan weekly consumer confidence survey is due out, as is the Dun and Bradstreet business expectations survey and the Australian Industry Group/Housing Industry Association performance of construction index (PCI) for May.

The Bankwest Curtin Economics Centre releases its Housing Affordability Report, Keeping A Roof Over Our Heads, which surveyed more than 4,000 households in WA, NSW and Queensland.

No major equities news is expected.

Key Numbers

• The SPI is trading up 13 points, at 5376.
• AUD up 0.1% at 73.69 US cents
• On Wall St, at about 4pm, Dow +0.6%, S&P +0.5%, Nasdaq +0.5%
• In Europe, Stoxx 50 +0.1%, FTSE +1%, CAC flat, DAX +0.2%
• In London, Anglo American +11%, Rio +6.4%, BHP +6.3%, Glencore +6.2%
• Spot gold +0.4% at $US1248.00 ounce at 3.38pm New York time
• Brent crude +1.4% to $US50.32 barrel at 2.14pm New York time
• Iron ore +2.1% to $US51.11 a tonne

What’s on today

RBA rate decision, AIG performance of construction May.

Overseas data: US productivity and costs (1Q, revisions), US consumer credit (April), China foreign reserves (May), Euro-area GDP (1Q), German industrial production (April), Halifax UK house prices (May), Hong Kong foreign reserves (May), Taiwan CPI (May), Taiwan imports, exports, trade balance (May), South Africa gross and net reserves (May), South Africa business confidence (May), Israel foreign currency balance (May).

Overseas earnings: Valeant Pharmaceuticals, Michaels Cos, Lukoil.

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