Australian shares are expected to open in the red on Tuesday, slipping from their 14-month high, tracking Wall Street and global peers lower while awaiting direction from corporate earnings.

The local share price index futures fell 0.45%, a 47.6-point discount to the underlying S&P/ASX 200 index close.

The benchmark ended largely unchanged on Monday.

New Zealand's benchmark S&P/NZX 50 index fell 0.1% in early trade on Tuesday.