Nov 5 (Reuters) - Australian shares are set to open higher on Tuesday, tracking robust gains on Wall Street, fuelled by optimism about progress in U.S.-China trade negotiations. Markets will also focus on the Reserve Bank of Australia's policy review, where it is widely expected to hold its cash rate at a record low of 0.75%, according to a Reuters poll. The local share price index futures rose 0.5% to 6,693 by 2106 GMT, a 6.1-point premium to the underlying S&P/ASX 200 index close. The benchmark ended up 0.3% on Monday. New Zealand's benchmark S&P/NZX 50 index rose 0.3% or 36.51 points to 10,838.06 in early trade.