I am guessing market’s reaction will be breakdown followed by bounce back. Some of this must be priced in the markets already and resulting weaker dollar is usually beneficial for markets as it makes US goods cheaper.
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conshmillo 9:16 pm on August 7, 2011 286 days ago Reply
As expected euro shoot up at Forex open on Sunday and dollar dropped. Same as dollar against Swiss franc. But nicely gold didn’t shoot too high (+1.11) and s&p500 futures are down mere -1.25 at open. This doesn’t seem so far as a terrible reaction to the downgrade.
conshmillo 9:17 pm on August 7, 2011 286 days ago Reply
I stay corrected gold futures are up +6.90
conshmillo 10:17 pm on August 7, 2011 286 days ago Reply
Oops. S&P500 futures are down about -31 points