Aussie market looks to RBA comments

The ASX is tipped to start the week higher after US stock market indexes hit record highs on Friday.

The ASX is tipped to start the week higher after US stock market indexes hit record highs on Friday.

A strong start is tipped for the Australian share market after Wall Street closed with record highs after a surge in technology markets.

The S&P 500 information technology sector in the US rose 0.3 per cent, powered by an Nvidia-led surge in chipmakers, while Apple rose one per cent in its first gain since unveiling the new iPhones.

Investors will look to the Reserve Bank this week when it publishes minutes from its September board meeting on Tuesday, and there will also be speeches from Governor Philip Lowe and Assistant Governor Luci Ellis later in the week.

AMP Capital's chief economist Shane Oliver expects the central bank to show a degree of comfort in how the economy is evolving, while expressing concern with the rise of the Australian dollar.

"The RBA indicated last month that a higher Australian dollar will threaten growth and inflation," Dr Oliver told AAP on Sunday.

"I think rates will be on hold for sometime yet."

The Australian dollar closed at 79.96 US cents on Friday.

RBA Governor Philip Lowe will address the American Chamber of Commerce in Perth on Thursday with a speech titled The Next Chapter.

Dr Oliver says it's uncertain whether the speech will focus on the Western Australian economy or look more broadly to the Australian economy, but expects Dr Lowe to be questioned on both.

"There's the potential for it to have broader ramifications," he said.

On Thursday morning the US Federal Reserve will announce a policy decision, which Dr Oliver says is likely to indicate a possible interest rate hike in December.

"It's more significant to us than usual as it should help put a lid on the Australian dollar," Dr Oliver said.

The policymakers are also expected to signal the start of reducing the central bank's $4.5 trillion stock of bond and other assets.

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