Today’s market move came first in the currency and commodity markets and is now filtering through to stocks. A weaker dollar helps US equities as multinational firms repatriate overseas earnings. A weaker dollar brings in more foreign currency.
A huge buy order against a basket of currencies and commodities by a big hedge fund helped set the ball in motion and it continues to roll. EUR/USD is through 1.2800 resistance and now eyes more at 1.2850.
