The Australian stock market opened weaker despite gains on international markets after Federal Reserve chief nominee Janet Yellen bolstered expectations of the Fed keeping the flow of easy money.
At the 1015 AEDT, the benchmark S&P/ASX200 slipped 0.45% to 5,377.2 points, while the broader All Ordinaries index decreased 0.44% to 5,372.5 points.
No major economic news is expected on Monday.
In equities news, Arrium and iSelect have annual general meetings scheduled.
In Australia, the market on Friday ended the week with solid gains as investors welcomed the incoming US Federal Reserve chair's comments about maintaining economic stimulus.
The benchmark S&P/ASX200 index gained 46.3 points, or 0.86%, to 5,401.7 points.
The broader All Ordinaries index added 44.2 points, or 0.83%, to 5,396.2 points.