Australian shares are set to open higher on Friday tracking a firmer finish on Wall Street, after a recovery in China's yuan eased fears of a full-blown trade war between the world's largest economies.

Gains are likely to be led by technology stocks after US peers led an overnight rally on Wall Street.

The local share price index futures rose 0.6% to 6,533, a 35.1-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.8% on Thursday.

Investors will be eyeing Reserve Bank Of Australia Governor Philip Lowe's statement later in the day for clues on future rate cuts.

New Zealand's benchmark S&P/NZX 50 index rose 0.3% to 10,902.92 in early trade.