Robinhood forced to raise extra $US2.4b, Australian shares to rise as Wall Street and silver prices jump

Australian shares are expected to rise for the second day in a row, as retail investors expand their social media-fuelled battle with Wall Street to drive silver prices to an eight-year high.

ASX futures were up 46 points (+0.7pc) to 6,626, by 8:05am AEDT.

The Australian dollar slipped (-0.3pc) to 72.62 US cents, as the US greenback bounced to a two-week high.

In economic news, the Reserve Bank will hold its first meeting of the year, and it will almost certainly keep the cash rate target at a record low of 0.25 per cent.