The Australian share market is set to begin the week slightly higher on the back of a flat lead from Wall Street.

At 7am AEST on the Sydney Futures Exchange, the September share price index contract rose seven points to hit 4,470.

In economics news today, the central bank will release its index of commodity prices for July.

The Housing Industry Association reports new home sales for June, while the Australian Industry Group and PricewaterhouseCoopers issues their Australian Performance of Manufacturing Index for July.

TD Securities and the Melbourne Institute announce their inflation gauge for July.

In companies news, Argo Investments Ltd and Crane Group Ltd post full year reports as earning season starts.

The public examination by liquidators into the fall of Octaviar carries on in the NSW Supreme Court.

The Diggers and Dealers Mining Forum commences in Kalgoorlie, Western Australia.

On Friday, the Australian bourse suffered broad-based slumps as investors offloaded risk.

The benchmark S&P/ASX200 index finished 30.6 points or 0.68 per cent lower at 4,493.5 points. The broader All Ordinaries index shed 28.8 points, or 0.63 per cent, to level at 4,507.4 points.