Markets will get off to a ‘difficult’ start

CommSec’s Steven Daghlian says the markets today will have a “difficult” start as SPI futures are pointing to a drop of about 0.9 per cent. “This is after falling about three-quarters of a per cent last Friday,” Mr Daghlian told Sky News Australia. “It comes courtesy of the US market partly, which also fell by almost one per cent on Friday as well. “We got nine trading days left now to try and turn things around and extend the winning streak to 12 straight months but it’s looking quite challenging. “One thing which makes more difficult is commodity price moves, in particular, iron ore, which fell another five and a half per cent and its fallen about 20 per cent in the past week as well.” Mr Daghlian said there will be three major central banks holding their meetings this week with the big one being the US.