Australian shares are poised to rise on Wednesday, as the Australian dollar climbs to a 12-year high against the New Zealand dollar, supported by diverging monetary policies and stronger economic signals in Australia.

Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 1.2%, 2%, and 0.5%, respectively.

In the macroeconomy, Australia's service sector continued to expand at the start of the fourth quarter, supported by rising new business and export sales, though growth momentum eased and price pressures moderated to multi-year lows, according to a monthly survey by S&P Global released Wednesday.

The Australian Industry Index rose 4.2 points in October to a negative 11.2 due to a higher supply of and access to workers in the construction industry, Ai Group said in a report on Wednesday.

In corporate news, Goodman Group (ASX:GMG) said that the group maintained its fiscal 2026 operating earnings-per-share growth forecast of 9%, according to a Wednesday filing with the Australian bourse.

Woodside Energy Group (ASX:WDS) expects to nearly double its liquefied natural gas capacity to 40 million tonnes per annum (Mtpa) by 2032, with annual sales rising to over 300 million barrels of oil equivalent (MMboe) from 203.5 MMboe and net operating cash flow increasing to around $9 billion from $5.8 billion.

Australia's benchmark index fell 0.9% or 81.1 points to close at 8,813.70 on Tuesday.