Australian shares are poised to fall on Monday, weighed down by global market jitters as gold held near record highs following a weak US jobs report and rising expectations of US Federal Reserve rate cuts.

Last Friday, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 0.3%, 0.03%, and 0.5%, respectively.

In the macroeconomy, the building approvals report is due at 11:30 am Sydney time.

In corporate news, Tourism Holdings (ASX:THL, NZE:THL) is closing its standalone recreational vehicle (RV) dealerships in Sydney and Brisbane, moving to streamline operations, cut overheads, and sharpen its focus on higher-margin ex-fleet sales, according to a Monday filing with the New Zealand bourse.

Mayne Pharma Group (ASX:MYX) confirmed that Cosette Pharmaceuticals, a unit of Cosette Pharmaceuticals Holdings, has no intention to close its manufacturing site in Salisbury and that the company did not advise the Foreign Investment Review Board of the site's possible closure in July due to a deteriorating financial position, according to a Monday filing with the Australian bourse.

Woodside Energy Group (ASX:WDS) and Santos (ASX:STO) are in focus as oil prices rise on Monday, recovering from last week's losses, following the Organization of the Petroleum Exporting Countries' decision to raise output at a slower pace amid concerns over weakening global demand.

Australia's benchmark index rose 0.5% or 44.7 points to close at 8,871.20 on Sept. 5.