FX.co ★ Australian Shares Fall as Banks, Gold Stocks Retreat

On Monday, the ASX 200 experienced a decline of 0.6% to settle at 8,814, reversing its earlier session gains. This downturn was primarily influenced by significant losses in the banking and gold stock sectors. Notably, the Commonwealth Bank of Australia saw a drop of 1.1%, with ANZ Group Holdings shedding 0.5% following the announcement of a A$240 million settlement with the Australian Securities and Investments Commission (ASIC) concerning violations within its markets and retail divisions. Gold mining stocks also exerted downward pressure, with Evolution Mining and Northern Star Resources standing out as major decliners, plunging 6.1% and 2.2%, respectively. Other noteworthy laggards included CSL Limited, which fell by 2%, Block, Inc. with a 1.8% decrease, and Macquarie Group, down by 1.4%. Domestically, the economic calendar remains relatively subdued this week. However, attention is beginning to focus on the forthcoming Australian employment data and scheduled addresses from Reserve Bank of Australia (RBA) officials, which could offer additional insights into the central bank’s policy trajectory.