ASX 200 LIVE: Shares slip; Fletcher hit by weak housing market; Lendlease disputes ATO claims; Iress in security breach; ANZ investigated by ASIC

The Australian dollar had a subdued start to the week at US66¢, ahead of key data from home and overseas that will give clues as to whether the Reserve Bank and the US Federal Reserve will have more work to tame inflation. Money market futures imply a 19 per cent chance the RBA will lift the cash rate to 4.6 per cent by September, although most economists believe the next rate move is down. Last week, the central bank kept the cash rate at 4.35 per cent, but considered a rise.

On Thursday, Australia’s jobs data for April will come out, with the jobless rate forecast to tick up to 3.9 per cent, from 3.8 per cent in March. The number of jobs created in the month is expected to rebound to 20,000, from a surprise decline of 6600 in March. Another key focus this week is the release of US inflation data for April on Wednesday , a key metric for policymakers on the Federal Open Market Committee. Forecasts are for the consumer price index to gain 0.4 per cent in April.

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Lendlease hit with $112m tax bill over retirement businessThe property group has been hit with an initial $112 million bill from the Tax Office, in a dispute that could ultimately cost it more than $300 million.
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