The local share market has closed lower amid jitters about what Fed chairman Jerome Powell might say at the Jackson Hole Symposium, an annual meeting of central bankers in the US.
The benchmark S&P/ASX200 index on Friday finished down 66.9 points, or 0.93 per cent, to 7,115.2 - just barely eclipsing Monday for its lowest close in more than six weeks.
It was the second straight week of losses for the index, which dropped another 0.46 per cent following its big 2.6 per cent sell-off last week.
The broader All Ordinaries on Friday finished 68 points lower, or 0.92 per cent, to 7,332.6.
St George senior economist Jarek Kowcza said investors were on "the edge of their seats" waiting for Mr Powell's speech, as well as comments from other Fed members for hints on what issues may be front of mind for the central bankers.
Mr Powell is set to speak just after midnight AEST on Saturday in a speech titled "structural shifts in the global economy".
A year ago the ASX200 plunged by nearly two per cent - and Wall Street suffered even worse losses - after Mr Powell used his address at the same forum to warn of the campaign of rate hikes it subsequently enacted.
Nine of the ASX's 11 sectors finished lower on Friday - all except the consumer discretionary and consumer staples sectors.
Wesfarmers aided the former, climbing 3.2 per cent to a one-week high of $51 after the conglomerate delivered better-than-expected full-year earnings, thanks in part to strong performances by Kmart and Bunnings.
Kmart Group earnings soared 52.3 per cent to a record $769 million as the chain attracted more shoppers, with some looking for bargains and other attracted by what Wesfarmers boss Rob Scott described as the increasing quality of its products.
Pilbara Minerals fell 8.0 per cent to $4.70 despite the leading lithium producer more than quadrupling its net profit to $2.4 billion.
Elsewhere in the mining sector, BHP was down 1.7 per cent to $43.02, Fortescue dropped 0.6 per cent to $20.93 and Rio Tinto retreated 0.9 per cent to $107.90.
All of the Big Four banks were lower, with NAB falling 1.8 per cent to $27.89, Westpac down 0.5 per cent to $21.32, ANZ dropping 0.9 per cent to $24.34 and CBA retreating 1.0 per cent to $99.57.
Insurance Australia Group fell 3.2 per cent to $5.68 after securities regulator ASIC filed civil proceedings against two of its subsidiaries concerning the pricing of premiums for customers renewing home insurance products.
IAG said it would defend the proceeding and denied misleading customers about the extent of the discounts they would receive.
Accent Group soared 17.1 per cent to a three-month high of $2.16 after the footwear retailer delivered a record full-year profit of $88.7 million, up from $31.5 million the year before.
Total sales at its more than 800 stores were up 26.3 per cent to $1.4 billion and, although the Platypus, Hype DC and Skechers brand owner said sales began slowing in May, there had been signs of improvement in recent weeks.
Bravura Solution rocketed 44 per cent to a six-month high of 72c after the struggling financial software company achieved guidance and said it was on-track to return to positive cash earnings by year-end.
In currency, the Australian dollar had pulled back after hitting a one-week high the day before.
The Aussie was buying 64.23 US cents, from 64.62 US cents on Thursday.
Next week the Australian Bureau of Statistics will report inflation data for July on Wednesday, as well as retail trade figures for that month on Monday.
Incoming Reserve Bank governor Michele Bullock will also give a speech discussing the RBA's work on climate change on Tuesday.
ON THE ASX:
* The S&P/ASX200 index finished Friday down 66.9 points, or 0.93 per cent, at 7,115.2.
* The All Ordinaries dropped 68 points, or 0.92 per cent, to 7,332.6.
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 64.23 US cents, from 64.62 US cents at Thursday's ASX close
* 93.75 Japanese yen, from 93.81 Japanese yen
* 59.56 Euro cents, from 59.53 Euro cents
* 51.04 British pence, from 50.88 pence
* 108.63 NZ cents, from 108.53 NZ cents.
