Aussie shares dip, retreating from all-time high

The local share market has retreated a bit from its record-high levels ahead of another domestic inflation readout.

At noon AEDT on Tuesday the benchmark S&P/ASX200 was down 34.1 points, or 0.41 per cent, to 8,383.5, while the broader All Ordinaries was down 32.6 points, or 0.38 per cent, to 8,628.6.

The Australian Bureau of Statistics will release October consumer price data on Wednesday, a readout that will be scrutinised for clues as to the pace of interest rate cuts next year.

Seven of the ASX's 11 sectors were higher at midday, and four were lower, but the heavyweight financial sector was among them.

It had dropped 1.6 per cent, with all four of the big retail banks in the red.

CBA was down 2.9 per cent, Westpac had fallen 1.4 per cent and NAB and ANZ had both retreated 1.6 per cent.

In the energy sector, Woodside had fallen 2.2 per cent and Santos had dropped 2.8 per cent as oil prices eased on signs of an Israel-Hezbollah ceasefire.

Goldminers were also lower as the price of the safe haven metal dipped to $US2,627 an ounce. Northern Star and Evolution were both down 1.5 per cent.

Elsewhere in the sector, BHP was down 0.4 per cent, Rio Tinto was up a similar amount, and Fortescue was basically flat.

The Australian dollar was buying 64.56 US cents, from 65.15 US cents at Monday's ASX close.