Australian shares are expected to open higher Friday as US peers advanced on signs of optimism following a tariff deal between the US and the UK.

In macroeconomy, the monthly business turnover indicator for March will be released at 11:30 am Sydney time.

On Wall Street, the Nasdaq Composite climbed 1.1%, while the Dow Jones Industrial Average and the S&P 500 gained 0.6% each.

The US and the UK announced early Friday a "historic trade deal," the first formal agreement with any nation since the Trump administration imposed sweeping tariffs on its trade partners in April.

Under the agreement, the US will reduce tariffs on imported cars from the UK and create a new trading union for steel and aluminum. The baseline tariff rate of 10% will still apply on other goods.

In corporate news, PointsBet Holdings (ASX:PBH) said its shareholders will vote on a proposed acquisition by Japanese consumer technology firm Mixi's unit, Mixi Australia, under an all-cash deal valued at AU$1.06 per share on June 12, according to a Thursday filing with the Australian bourse.

Elsewhere, ANZ Group Holdings (ASX:ANZ, NZE:ANZ) extended its buyback program to May 7, 2026, according to a Thursday filing.

Australia's benchmark index was little changed at 8,191.70 on Thursday.