Australian shares are expected to start the day with very little momentum, despite two of Wall Street's major indices finishing at record highs.AUD: 69.76 US cents, 55.85 British pence, 62.58 euro cents, 75.44 Japanese yen, $NZ1.04Europe: FTSE 100 -0.7pc at 7,501, DAX +0.3pc at 12,523, CAC -0.2pc at 5,606, Euro Stoxx 50 flat at 3,533
In local economic news, Reserve Bank governor Philip Lowe will give a speech on"Inflation Targeting and Economic Welfare" in Sydney at 1:05pm . The benchmark S&P index rose 0.5 per cent to 3,019, while the tech-heavy Nasdaq lifted 0.9 per cent to 8,322. Aviation company Boeing dropped 3.1 per cent after posting its largest-ever quarterly loss on the back of this year's grounding of its best-selling 737 MAX after two deadly crashes.