Australian shares are poised to open lower on Monday, as investors react to the uncertainty around a resolution to the conflict in the Middle East after US President Donald Trump said he cancelled strikes on Iran after Iran and other Middle Eastern countries had asked for time to complete a peace deal.
On July 31, the Nasdaq Composite rallied 1% on the back of strong earnings from tech giants, while the S&P 500 and the Dow Jones Industrial Average rose 0.7% and 0.5%, respectively.
In the macroeconomy, investors are eyeing the release of the Melbourne Institute monthly inflation gauge report and Cotality's house prices data.
In corporate news, Westpac Banking (ASX:WBC, NZE:WBC) completed the sale of the RAMS home loan portfolio, around AU$15.4 billion at completion, to a consortium consisting of Pepper Money (ASX:PPM), credit funds and accounts managed by KKR, and PIMCO managed funds.
Regis Healthcare (ASX:REG) struck a deal to acquire the business and assets of Royal Freemasons Homes of Victoria's Home Care, a not-for-profit provider of at-home support services.
Australia's benchmark index was little changed to close at 8,976.80 on July 31.