Flat results in US markets could deliver Australia a fairly uninspiring lead when the local market opens on Monday.
CommSec's chief economist Craig James said nothing "earth shattering" happened in the US markets on Friday, leading Australia to weak trading start.
"It's a pretty uninspiring lead in for our markets and pretty flat in the United States." Mr James said.
"Futures is pointing to a fall of about 11 points and that seems pretty reasonable - we had a gain of about one per cent last week and we'll probably see a little bit of consolidation at the start of the coming week."
The US had a big week of gains - the Nasdaq managing to edge out to a record high - but economic growth was less than expected in the December quarter.
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"The one thing the US markets were focusing on was that economic growth was 1.9 per cent in the December quarter rather than 2.2 per cent.
"So a little bit short of where they were looking for, so there was nothing to extend the gains which the market had certainly done in the earlier part of the week."
The Federal Reserve is also meeting this week to decide interest rates - and a follow up rate hike is not expected but can't be ruled out in the current environment, Mr James says.
In terms of commodities, oil was down by over a per cent, gold was down and iron ore unchanged.
The Australian dollar is sitting around 75.5 cents, rising a little against the Greenback.
It's also a big week for Australian economic data with a flood of new economic indicators expected with the latest figures on home prices the highlight.
On Tuesday, the Reserve Bank also releases the latest private sector credit figures - essentially data on outstanding loans - and the NAB business survey and weekly consumer sentiment data are also expected.
