The Australian share market looks set to open firmly in positive territory, as US equities gain for their fifth straight session with investors seemingly forgetting their fears over inflation.

At 0700 AEDT on Friday, the share price futures index was up 18 points, or 0.31 per cent, at 5,880.

Meanwhile, the Australian dollar is hardly changed against its US counterpart which has continued to weaken in the offshore session.

The local currency was trading at 79.35 US cents at 0700 AEDT on Friday, from 79.37 on Thursday.


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