Category: Currency Currents
- Published: 11 May 2009
- Written by Editor
Pullback time?
Usually, when everyone in the market is talking and thinking about something you tend not to get it. The Heisenberg principle of markets?
The dollar was flattened on Friday. A lot of currencies appear “overbought” against the buck. And of course we all know the driver of Friday’s rally—stocks. The S&P 500 was able to reverse the seemingly key day reversal that was set up on Thursday. And many are expecting stocks to pullback today and at least consolidate this run.