CommSec’s Tom Piotrowski says the conflict in the Middle East is having “an acute impact” on the markets.

“We saw the US dollar move substantially higher at the end of last week,” he told Sky News Australia.

“We saw a very significant move higher where oil prices were concerned as well on Friday – they rose very substantially.

“This is very much seen through the lens of what’s going on in the Middle East.”

Mr Piotrowski’s remarks come as the Israel-Gaza conflict intensifies, with the death toll continuing to grow each day.

Presented by CommSec.