19.01.202600:26:52UTC+00Australian Shares Retreat

On Monday, the S&P/ASX 200 index declined by 0.2% to settle at 8,886, pulling back from a peak not seen in over two months achieved in the previous trading session. This dip occurred as investors took a momentary pause following a prolonged upswing. The market's focus has now shifted to a series of crucial economic indicators set to be released later this week, with an emphasis on the unemployment rate. Although projections suggest a slight increase in the jobless rate, Oxford Economics Australia has indicated that the economy finds itself in a precarious situation. The firm highlighted that inflation appears to be accelerating again, despite uneven economic growth, suggesting that the Reserve Bank is likely to adopt a cautious approach, postponing any imminent policy interventions. The performance of financial sector giants impacted the index negatively, with Commonwealth Bank, Westpac, NAB, and ANZ Group shares dropping between 0.5% and 0.7%. In contrast, gold mining stocks excelled, buoyed by soaring gold prices amid renewed global tariff concerns. Companies like Newmont Corporation, Evolution Mining, and Northern Star Resources saw their shares increase between 1.8% and 2.1%.