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Will Growth Fears Finally Overwhelm Stocks, Change USD's Tack?

Will Growth Fears Finally Overwhelm Stocks, Change USD's Tack?

2016-04-12 02:01:00
John Kicklighter, Chief Currency Strategist
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Talking Points:

  • The S&P 500 dropped back through the US session Monday, but the risk aversion wasn't uniform
  • Growth forecasts from the IMF's WEO report will weigh in on systemic fears for global investors
  • In addition to the IMF's report, event risk ahead includes: Fed speculation; US earnings and Chinese GDP

See the DailyFX Analysts' 2Q forecasts for the Dollar, Euro, Pound, Equities and Gold as well as our favorite 2016 trading opportunities in the DailyFX Trading Guides page.

The benchmarks are putting pressure on market confidence. While many risk-oriented assets were either little changed or higher on the day Monday, the S&P 500 positioned itself into a the floor of the head-and-shoulders pattern it has carved out over the past week. Meanwhile, the USDollar dropped to a new eight month low to match levels that draw comparison to the Greenback's unexpected reaction to the plunge in speculative appetite through August 24th. Is this positioning for something more systemic or are these high-profile players for their respective markets simply running afoul of the trends? Ahead, we will see critical event risk that can wade into the deeper waters of investor sentiment. Ahead, the top event risk is the IMF's World Economic Outlook (WEO) report. The laundry list of concerns this group gap late last year eroded the market's confidence before the August tumble and arguably set up the subsequent drop to start this year. Views of economic and market conditions have hardly improved since. Even if the volatility response is staid, keeping site of the underlying concern is critical for those that are watching the pressure build at the financial seams. We discuss trends, volatility and trades in today's Trading Video.

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