Australian market set to open flat

The Australian market looks set to open flat after Wall Street regained some of the ground US markets lost last week.

At 0645 AEST on Tuesday, the September share price index futures contract was up three points at 5,487.

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

The Australian Bureau of Statistics releases June's international trade in goods and services figures, while the Dun and Bradstreet business expectations survey and the Australian Industry Group's Australian Performance of Services Index (PSI) for July are due out.

The 17th Australian Cotton Conference is on on the Gold Coast.

In equities news, Cochlear, Transurban and Downer EDI are expected to post full year results.

In Australia, the market on Monday lost ground but not as much as expected, as strong retail spending figures boosted sentiment.

The benchmark S&P/ASX200 index dropped 15.5 points, or 0.28 per cent, to 5,540.9.

The broader All Ordinaries index shed 14.3 points, or 0.26 per cent, to 5,533.3.