Australia Stocks Hold Steady Ahead of Key Economic Data

Australian stocks were relatively stable in early Monday trade, trading near 9,090 after a gain in the previous session.

Markets are bracing for a slew of economic data releases, including Q2 business inventories and July private credit figures, which could have a significant impact on investor sentiment.

The data slate also includes the monthly inflation gauge, with Q2 GDP and July trade figures due later in the week.

In related news, China's July PMI readings are being closely watched by traders.

Meanwhile, US futures weakened after Federal Reserve Chair Warsh's hawkish remarks fueled bets on a September rate hike.

The decline in tech and industrials sectors was partially offset by gains in financials and energy minerals.