Aussie stocks set for soft start The Australian share market is expected to open flat or slightly lower following weakness in overseas markets to end last week as data showed that economic growth in the US for the March quarter was softer than expected. On the ASX24, the SPI futures contract was 3 points lower to 5104. The Aussie dollar is lower. It is buying $US1.0285, down from $US1.031 late on Friday. It was also buying 100.74 yen, 78.8 euro cents and 66.36 pence. In the US on Friday, the US Commerce Department reported March quarter growth of 2.5 per cent, above the previous quarter's level, but below the 2.8 per cent expected by analysts. On the local company front this week, focus will be on earnings reports from some of the major banks: the ANZ Banking Group on Tuesday, and Westpac on Friday. In New York, the S&P500 lost 0.18% to1582.24 In Europe, the FTSE100 lost 0.25% to 6426.42 China iron ore lost 50 cents to $US134.10 a metric tonne Gold last traded at $US1452.98 an ounce WTI crude oil last traded at $US83.00 a barrel Wall Street week ahead: Central banks, data to steer investors Australian finance calendar: April 29 - May 30 OceanaGold March quarter financial and operational results Beadell Resources rated new buy at Argonaut Securities Woodside cut to neutral from buy at Citigroup Westpac cut to underperform at CIMB Coffey International cut to neutral from buy at UBS Miclyn cut to neutral from overweight at JPMorgan The Australian dollar has dropped back below $US1.03 following weakness on global share markets and commodity prices. At 7am AEST the currency was trading at $US1.0282, down from $US1.031 on Friday afternoon. Westpac New Zealand senior market strategist Imre Speizer said the Australian dollar weakened during Friday night's European and US sessions as equities markets moved lower. Mr Speizer said markets were disappointed after European Central Bank (ECB) official Joerg Asmussen warned of the side effects of low interest rates. His comments undermined widespread expectations the ECB will cut its key interest rate when it meets later in the week. Mr Speizer said the currency was likely to continue to move lower over the next few days, possibly dropping below $US1.022. ""It looks like it wants to test those levels,"" he said. How we fared on Friday The Australian stock market closed lower with strong gains in the miners offset by losses in most of the other sectors.