Australian shares are set to open lower

AUSTRALIAN shares look set to open lower after US and European markets fell ahead of the Federal Reserve’s policy meeting this week.

NEW YORK, NY - SEPTEMBER 11: Traders work on the floor of the New York Stock Exchange (NYSE) on September 11, 2015 in New York City. The Dow was down 50 points in morning trading. Throughout the nation people are holding somber gatherings and memorial events to reflect on the 14-year anniversary of the 9/11 attacks that resulted in the loss of nearly 3,000 people. Spencer Platt/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==

AUSTRALIAN shares look set to open lower after US and European markets fell with investors cautious ahead of the Federal Reserve’s policy meeting this week.

At 0645 AEST on Tuesday, the September share price index futures contract was down 15 points at 5,076.

In economic news on Tuesday, the Reserve Bank of Australia releases the minutes of its September board meeting, the Australian Bureau of Statistics releases August new motor vehicles sales figures and the ANZ-Roy Morgan weekly consumer confidence survey is due out.

In equities news, Brambles has an investor briefing.

In Australia, the market on Monday ended higher ahead of the US Federal Reserve’s decision on interest rates.

The benchmark S&P/ASX200 index was up 25.4 points, or 0.5 per cent, at 5,096.5 points.

The broader All Ordinaries index was up 24.2 points, or 0.47 per cent, at 5,120.5 points.