Australian shares are set to open higher on Tuesday, ahead of an important domestic central bank meeting that may see its cash rate stay at a record low, and as robust commodity prices will likely lend weight to miners and energy stocks.

The local share price index futures rose 0.26%, a 67-point discount to the underlying S&P/ASX 200 index close. The benchmark closed flat on Monday.

New Zealand's benchmark S&P/NZX 50 index was largely flat in early trade.