July 7 (Reuters) - Australian shares are expected to retreat on Friday as iron ore futures remained in negative territory and as Wall Street slipped, hurt by poor labor market data.
Iron ore futures dropped for a third day while oil prices settled slightly higher. O/R IRONORE/
The index is also expected to mirror losses in Wall Street, weighed down by disappointing labor market data along with rising tensions in the North Korean peninsula. .N
The local share price index futures YAPcm1 fell 0.4 percent to 5,676, an 82.8-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark inched 0.1 percent lower on Thursday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.3 percent or 21.46 points in early trade.