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Clifford Bennett notes the current state of anxiety in Egypt, but suggests market hesitation is more about acceptance and consolidation of recent strong gains. Given there was also broad market over reaction to Cisco's caution on earnings, he does not expect any significant market pullback. In fact commodities continue to show the way, pointing to the world being caught short during a period of great economic expansion.

The US dollar is likely to consolidate in a relatively tight range before resuming its long term decline, and this also bodes well for a resumption of the bull market in equities in a couple of days time, says Clifford Bennett.

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Clifford Bennett
Herston Economics
Email: clifford@herstoneconomics.com
http://www.herstoneconomics.com

ABN Newswire
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