The Australian market looks set to open higher following strong gains on Wall Street after new Federal Reserve chief Janet Yellen's Congressional testimony appeared to reassure investors.
At 0645 AEDT on Wednesday, the March share price index futures contract was up 42 points at 5,245.
Dr Yellen late Tuesday (AEDT) told Congress she had no plans to change the monetary policy set under her predecessor Ben Bernanke.
In local economic news on Wednesday, the Australian Bureau of Statistics releases December quarter overseas arrivals and departure figures while the Westpac/Melbourne Institute Survey of Consumer Sentiment is due out.
In equities news, OZ Minerals is expected to post full year results while Commonwealth Bank, Boral, CSL, Stockland, Slater and Gordon, Carsales.com, Goodman Fielder, Primary Health, Domino's Pizza, Noni B, Computershare, Dexus Property Group post first half results.
In Australia, the market on Tuesday closed higher as strong profit growth by ANZ drove gains in the banking sector.
The benchmark S&P/ASX200 index gained 32.4 points, or 0.62 per cent, to 5,254.5.
The broader All Ordinaries index added 30.8 points, or 0.59 per cent, to 5,267.3.