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The Australian share market is expected to open higher despite a mixed lead from Wall Street.

The SPI200 futures contract was up 18 points, or 0.29 per cent, at 6,332.0 at 0700 AEST, suggesting a positive start for the benchmark S&P/ASX200 on Tuesday.

On Wall Street overnight, the Dow Jones Industrial Average closed up 0.02 per cent, the S&P 500 was down 0.28 per cent and the tech-heavy Nasdaq Composite was down 1.61 per cent.

The Australian Bureau of Statistics is expected to release retail trade data for April as well as the country’s trade balance figures at 1130 AEST on Tuesday.

Most investors are anticipating an interest rate cut when the Reserve Bank of Australia announces its decision on monetary policy at 1430 AEST.

The Aussie dollar is buying 69.76 US cents from 69.14 US cents on Monday.