Australian shares are likely to rise on Tuesday, with robust commodity prices expected to aid energy and mining stocks, while investors cautiously look forward to a key monetary policy meeting from the Reserve Bank of Australia later in the day.

The local share price index futures rose about 0.6%, a 61.6 point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.2% on Monday.

Banks, miners weigh on Australia shares ahead of RBA meeting

New Zealand's benchmark S&P/NZX 50 index rose 0.8% in early trade.