I’m going to make this real easy: forget the G7 meeting and brace yourselves, it’s all about what U.S. stocks started on Friday (well, days before that but things really heated up Friday).
But in case you’re still worried, here’s what happened over the weekend when financial officials for the G7 nations met:
- China was put on warning by the group to shift gears and get the Yuan worth more
- The group said its economies are healthy like bull (this doesn’t mean that prices may not be higher than this warrants for a currency or stocks, though)
- Concern for USD devaluation was reiterated after the meeting, and it was noted that a strong dollar is “in everybody’s best interest”.
- They reminded investors to be careful of “one way bets”.
They did not get into pressuring the euro down or the buck up. This is disappointing to traders wanting a pause in some of the trends happening. But it all comes back to a moot point with the bigger fish to fry: stocks led weakness …