Australian shares are set for a flat opening as investors wait to take leads from local profit results and news.

The SPI200 futures contract was down 4.0 points, or 0.6 per cent, at 7,062 at 0800 AEDT on Tuesday.

US markets were closed for a public holiday on Monday so the Australian market will be looking for direction from the raft of local profit results to come on Tuesday.

Medical gloves maker Ansell has posted a jump in its first-half profit. Other companies reporting on Tuesday include Kogan, BHP Billiton and Coles.

The RBA’s latest board minutes will be also released but few surprises are anticipated given they have offered views and commentary recently, IG markets analyst Kyle Rodda says.

“In general, market participants will be looking for greater colour on the optimistic outlook the central bank put-forward at its meeting a fortnight ago,” Mr Rodda said in a research note on Tuesday.

“As it presently stands, markets are giving little more than a eight per cent chance of a rate cut next month, with a full cut baked in by September.”

The Australian dollar was buying 67.17 US cents at 0800 AEDT, down from 67.29 US cents as the market closed on Monday.