It may vary according to local law.

But as far as I have been taught, bicycle riders are supposed to obey all the same rules as cars - stop light, signs, etc., and go with the flow of traffic, but pedestrians are not subject to those laws, and just need to be careful. As far as I know, there's no law saying you have to walk in the direction traffic is flowing, or against it. As a pedestrian, though, you need to obey signs and stick to crosswalks when crossing a street. (Not that this happens in the Boston area, where pedestrians seem to think they own the roads!)