A big week for economic data kicks off with retail sales and building approvals figures.
NAB economist Taylor Nugent expects building approvals - and home loan approval figures due later in the week - to fall in line with slowing housing demand amid rising interest rates.
Consumer confidence will also be released. In the last two surveys, sentiment has been relatively upbeat despite rising interest rates and soaring inflation.
Wednesday will see ABS data detailing the value of construction work.
Mr Nugent anticipates a 0.5 per cent quarterly drop due to bad weather disrupting work as well as ongoing capacity constraints.
The Reserve Bank will also issue a report into outstanding loans mid-week.
Later in the week, both CoreLogic and competitor PropTrack will release their home price reports.
The ABS will also drop actual and projected investment spending data sets, as well as lending data.
CommSec economist Craig James said July lending data - which includes home, personal, business and lease loans - would provide some clues about the impact of recent rate hikes.
The jobs and skills summit will start in Canberra on Thursday, with Treasurer Jim Chalmers, Grattan Institute head Danielle Wood and renowned economist Ross Garnaut the keynote speakers.
The head of the US Federal Reserve on Friday dashed hopes on Wall Street that it may soon ease up on high interest rates in its effort to tame inflation.
The S&P 500 fell 141.46 points to 4,057.66. The benchmark index is now down almost 15 per cent for the year.
The Dow lost 1,008.38 points to close at 32,283.40. The last time the blue-chip average had a 1,000-point drop was in May.
The Nasdaq slid 497.56 points to 12,141.71, its biggest drop since June.
The local share market meanwhile finished higher for a third straight day.
The ASX/S&P200 index finished up 56 points, or 0.79 per cent, to 7104.1, while the broader All Ordinaries gained 53.9 points, or 0.74 per cent, to 7345.8.
