ASX expected to open in the black

Australia's share market is set to open in the black after a double whack last week.

The futures market is pointing to a positive opening on Monday of between 10 and 15 points, up 0.2 per cent, AMP Capital's chief economist Shane Oliver told AAP.

"It looks like we will open Monday in the black. It looks like we will open positively tomorrow because Wall Street, and Europe saw gains," Dr Oliver said on Sunday.

"We might reverse a little bit of the weakness we saw last week on Monday."

The benchmark S&P/ASX200 index finished Friday up 36.9 points, or 0.55 per cent, to 6,709.8 points, while the broader All Ordinaries was up 38.8 points, or 0.57 per cent, to 6,816.5 points.

The ASX finished for the week down 83.9 points, or 1.24 per cent, but it's still up 46 points for the month.

The Australian market took a beating last week due to the ongoing certainty over the US-China trade deal, and allegations against Westpac of 23 million breaches of money laundering laws.

"You could argue that the domestic news was worse than the global news," he said.

Eyes will remain on the US-China deal as to whether it can finally be ticked off before the US raises tariffs on about $US150 billion worth of imports from China on December 15.

Back home, Reserve Bank of Australia governor Phillip Lowe will deliver a speech on Tuesday night about unconventional monetary policy.

It could signal just how close the RBA is to implementing such policy as interest rates edge closer towards zero, Dr Oliver said.

"It suggests they're considering it fairly seriously ... and what aspects of unconventional monetary policy they may do," he said.

Construction data on Wednesday will also sharpen the market's focus, in the run-up to the September GDP quarter figures to be released the following week.

Consumer confidence data in the US is expected on Tuesday before the Thanksgiving public holiday on Thursday and shoppers going online to indulge in the Black Friday sales.

Austrlaian Associated PressBack to Breaking News

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