Australian shares are poised to fall on Tuesday, as rising geopolitical tensions between Russia and Ukraine fuel concerns over global oil supply disruptions, while a softer dollar and key economic data add to market uncertainty.

At the same time, iron ore futures come under pressure amid rising steel inventories in China and disappointing economic data, signaling persistent weakness in the world's top steel consumer.

In the macroeconomy, Australian small and medium-sized enterprises (SMEs) are increasingly worried about cash flow, profitability, and government policies and regulations, according to a Tuesday report by the National Australia Bank (ASX:NAB).

The balance of payments and international investment position report is due at 11:30 am Sydney time.

In corporate news, Collins Foods (ASX:CKF) reported a strong start to fiscal 2026, with total sales up 6.7% driven by robust same-store sales growth in all markets, reaffirming its guidance for low to mid-teens underlying net profit after tax growth, according to a Tuesday Australian bourse filing.

Platinum Investment Management (ASX:PTM) is on watch as a major client plans to redeem around AU$580 million from its trust funds and mandate over October and November, following the conclusion of a manager review that began earlier this fiscal year, according to a late Monday Australian bourse filing.

Australia's benchmark index fell 0.5% or 45.4 points, to close at 8,927.70 on Monday.