Australian shares are poised to rise on Friday, tracking a pullback in oil prices as renewed hopes of US-Iran peace negotiations eased concerns over Middle East supply disruptions, although escalating Houthi attacks and ongoing regional security risks are likely to temper gains.
Meanwhile, gold prices fell for a second consecutive month as persistent US inflationary pressures and growing expectations of a December Federal Reserve rate hike weighed on the precious metal.
Overnight, the S&P 500 and the Dow Jones Industrial Average each fell 0.3%, while the Nasdaq Composite declined 1.4%.
In the macroeconomy, Australia's producer price indexes report is due at 11:30 am Sydney time.
In corporate news, ResMed (ASX:RMD) reported Friday fiscal first-quarter non-GAAP earnings of $2.91 per share on revenue of $1.42 billion, compared with non-GAAP earnings of $2.55 on revenue of $1.34 billion a year earlier.
Capstone Copper (ASX:CSC) reported Friday third-quarter adjusted earnings of $0.12 per share on revenue of $712 million, compared with adjusted earnings of $0.06 on revenue of $598.4 million a year earlier.
Australia's benchmark index rose 0.5%, or 44.5 points, to close at 8,891.80 on Thursday.
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