Australian shares to slip ahead of RBA policy meet; NZ flat

Australian shares were poised to edge lower on Tuesday as risk sentiment was subdued after China and the United States began imposing new tariffs on each other's goods, while investors also awaited the local central bank's cash rate decision.

The Reserve Bank of Australia is expected to keep key interest rates at a record low of 1pc later in the day, though it will likely cut them again two more times this year to support a sputtering economy, a Reuters poll showed.

The local share price index futures fell 0.2pc to 6,537.0, a 42.4-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.4pc on Monday. New Zealand's benchmark S&P/NZX 50 index was little changed at 10,794.48 in early trade.