Australian shares to start lower amid budget, tariff uncertainty

The news: The Australian sharemarket is set to open lower as local investors stay cautious ahead of the federal budget on Tuesday and continuing uncertainty around US President Donald Trump’s tariff policies.

The numbers: Updated at 7.25am AEDT:

• ASX futures: down 41 points or 0.51% at 7,945 points
• Wall Street: Dow Jones up 0.08%, S&P 500 up 0.08%, Nasdaq up 0.52%
• Europe: FTSE 100 down 0.63%, CAC 40 down 0.63%, DAX down 0.47%
• Spot gold: down 0.75% to USD3,022.15 per ounce
• Oil prices: Brent up 0.22% to USD72.16/bbl, US WTI up 0.31% to USD68.28/bbl
• AUD: down 0.10% at 62.67 US cents
• Bitcoin: up 1.56% to USD85,196.77.

The context: The major US stock indices reversed earlier losses to eke out small gains on Friday on hopes Trump’s previously announced tariffs expected to begin in early April may not be as burdensome as feared. Markets have been under pressure in recent weeks as changing announcements about the timing and size of tariffs have clouded the outlook for corporate profits as well as the US Federal Reserve's monetary policy path.

Elsewhere, coffee prices hit a record USD7.25 a pound, with roasters warning they’ll keep climbing as cost pressures intensify.