AU Morning Wrap: ASX to Edge Up Before RBA Rate Call; Seek Lowers Revenue Forecast

U.S. stocks are coming off a tumultuous first quarter in which the major indexes proved fairly resilient in the face of a banking crisis that caught the financial world by surprise in March. All three major stock indexes finished the first three months of the year with gains.

Australian shares may edge higher. Energy shares surged in New York, lifting the Dow Jones, as benchmark oil advanced more than 6 per cent. Tesla tumbled.

ASX futures were up 7 points, or 0.1 per cent, to 7254 at 7am AEST, reversing earlier modest declines.

The local currency leapt 1.5 per cent, putting US68¢ on the radar screen; the Bloomberg dollar spot index slipped 0.4 per cent.

The Reserve Bank of Australia will issue a rate decision after its policy meeting at 2.30pm AEST on Tuesday.

Gold miner Northern Star is up more than 12 per cent over the past month, with Newcrest Mining adding more than 10 per cent and Gold Road up 9.6 per cent.

The weakness detected in third-quarter revenue will be offset by lower operating costs, Seek said.

The company reiterated its guidance for $560 million in EBITDA and $250 million in annual net profit.

Super Retail also announced the appointment of Mark O'Hare as a non-executive director of the company effective today.

O'Hare was nominated by Rowe as his nominee non-executive director. He is Rowe's long-time business adviser and is the chairman of the advisory group of Re-Grow Capital Group, which is Rowe's private investment group.

With his late wife Hazel, Rowe founded Super Retail Group's original business in 1972 and served as managing director until 1996. He was chairman from 1996 to 2004 and has been a non-executive director since the company listed on the ASX in 2004.

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