Australian shares are set to open moderately lower after investor sentiment waned ahead of a key central bankers' conference in Wyoming.Meanwhile, the Australian dollar has risen slightly to 67.75 US cents.
The local bourse will follow a weak lead from US and European stocks, which closed firmly in the red — just as they had nearly recovered from last week's market wipe-out. Investors will be paying close attention to any hints given about future interest rate cuts at the annual Jackson Hole Economic Policy Symposium.
Reserve Bank governor Philip Lowe and US Federal Reserve chairman Jerome Powell will speak at the end of this week — with this year's theme being the challenges for monetary policy. On Wall Street, the Dow Jones index snapped its three-day winning streak, sliding 173 points to 25,962.European markets also tumbled, with steep losses for London's FTSE 100 and Rome's FTSE MIB .— as his deputy pushed for a vote of no confidence against him, bringing the nation closer to snap elections.Brent crude oil has lifted 0.6 per cent to $US60.07 a barrel.