Markets ‘focused’ on the reopening of Australia

CommSec’s Tom Piotrowski says the markets are down by a “point four of a per cent,” starting off with a minor “set back”.

“It’ll be quite valuable to see where the initial impulse comes from as far as the local market is concerned,” Mr Piotrowski told Sky News Australia.

“We’ve got a number of balance items at the moment, on the one hand, this week will bring with it a number of outcomes, which will just remind us of the challenges that the Australian economy has faced over the course of recent lockdowns.

“The market is quite focused on the reopening of the Australian economy, which is likely to happen over the course of the near term.

“These will be reflected in the price action of the market and the way that the different sectors perform as well.”

Mr Piotrowski said the iron ore price “continues to struggle” – down by about 11 per cent from the previous week.