BZ: Oil, Equities, Dollar Ticking Higher After NFP Print: Something Has To Give
Oil, the dollar, and equities are moving higher into the start of Friday trading, which is very unusual.
Usually, the dollar and risky assets tend to move in opposite directions, so the three converging on the same path is odd.
Something has to give, and considering how overbought we are on the equity side, stocks could pop at the open, and then fade the rest of the day.
If traders believe this, then they could go long the Dollar ETF (NYSE: UUP) and short the S&P 500 SPDR ETF (NYSE: SPY) in a pairs trade for today.
