Investment strategists warn Australian shares remain delicately poised following a stunning rebound over the past month as investors face the dual threat of a flare-up in US President Donald Trump’s trade war and a re-acceleration in global inflationary pressures.

Futures indicate the S&P/ASX 200 will rise 0.2 per cent, or 16 points, at the open on Monday after last week notching its first weekly drop since early April. The sharemarket has rallied 12.1 per cent since its April 7 low.