He said the fact that the tariffs are suspended, “will provide some positive momentum going into Monday’s trading here in Australia”.
US shares hit record highs at one stage on Friday on the announcement of the US- China trade deal before finishing steady.
The Dow Jones Industrial Average rose 3.33 points, or 0.01 per cent, to 28,135.38, the S&P 500 gained 0.23 point, or 0.01 per cent, to 3,168.8 and the Nasdaq Composite added 17.56 points, or 0.2 per cent, to 8,734.88.
Australian share futures were trading 39 points higher at 6782.
The benchmark S&P/ASX200 index closed on Friday up 30.9 points, or 0.46 per cent, to 6,739.7 points, while the broader All Ordinaries was up 33.8 points, or 0.5 per cent, to 6,844.6 points.
Just before local trading gets under way, federal Treasurer Josh Frydenberg will hand down his mid-year budget review, which is expected to show the government remains on course for the first surplus in 12 years, but downgrades to economic growth forecasts.
The final major economic event of the year on the Australian calendar will be Thursday’s jobs figures for November, which are expected to show the unemployment rate unchanged at 5.3 per cent.