Australian shares are poised to rise, tracking modest gains in New York. Gold and oil were higher. At the closing bell, both the S&P 500 and Dow were 0.1 per cent higher; the Nasdaq Composite was up 0.3 per cent.

US government bond yields fell as data pointed to slowing growth, bolstering hopes for a pivot to rate cuts as the year progresses. Pantheon Macroeconomics overnight forecast 125 basis points of cuts this year: 25bps in September and 50bps cuts in November and December. Goldman sees a 25bps cut in September and a second one in December.