Australian equities slipped in early Monday trade, easing 20 points or 0.2% to 8,825 and unwinding part of the prior session’s rally. The retreat pulled the market back from a one-week high as investors booked profits and turned cautious ahead of fresh job ads data and the June inflation gauge due later today. In top trading partner China, June CPI and PPI figures are expected later this week, with May showing steady headline inflation but faster producer price gains. Concerns over further cash rate hikes also resurfaced, underscored by the Reserve Bank’s June minutes and Governor Michele Bullock’s recent remarks. Still, a modest rise in U.S. equity futures capped the weakness following a strong week on Wall Street that drove the Dow Jones to record highs. Industrial services, consumer durables, and manufacturing drove the decline in local markets. The four major banks lost between 0.3% and 0.9%, while Genesis Minerals (-6.7%), Suncorp (-3.5%), and Greatland Resources (-2.6%) fell.

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