Nothing Solved
"I'd be quite surprised if this has a big impact," Fisher said. "Al-Qaeda will still be there and we're not becoming any more beloved by the people who hate us, so this isn't going to solve anything. It doesn't change earnings, it doesn't change the economy, and it doesn't make us free from terrorism concerns."
Optimism spurred by the killing is unlikely to help the dollar rally, according to Brooks, of Gain Capital in London. Any appreciation is an opportunity for investors to increase bets the currency will decline because the U.S. Federal Reserve is unlikely to raise its target interest rate on overnight loans between banks anytime soon, she said.
"The Fed still dominates financial matters and right now they are on hold, which is proving to be a heady mix for risk, while also weighing on the dollar," Brooks said.
Bin Laden's death means financial assets will be more tied to economic data, according to Thomas Caldwell, chief executive officer of Caldwell Securities Ltd. in Toronto, which manages about C$1 billion ($1.05 billion). Reports this week may show factory orders rose in March, the rate of expansion in U.S. service industries increased, and nonfarm payrolls gained for a seventh month, according to economists surveyed by Bloomberg.
Killing bin Laden "does show America can reach out and get these people," Caldwell said. "It's not going to change the nature of the conflict. It's a positive, it's a bump, but I think markets are taking cues more from the economic things."