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IMF Stokes Global Fears, US Oil Prices Clear 200 Day Average

IMF Stokes Global Fears, US Oil Prices Clear 200 Day Average

2016-04-13 02:26:00
John Kicklighter, Chief Strategist
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Talking Points:

  • The IMF economic outlook was downgraded a fourth straight quarter, now its time for the laundry list of risks
  • A risk rebound finds the S&P 500 still trading in its reversal pattern but US oil prices clear important 200 SMA
  • Fed speculation, another round of US earnings and the BoC rate decision are other notable, discrete releases

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

The IMF's laundry list of concerns late last year further destabilized already-fragile sentiment in the financial system. Since then, we've experienced two dramatic razings of global investor sentiment: the August plunge and the market-wide collapse that opened the year. Fundamentals have improved little, if at all, through the course of the recovery period; which makes the recent recovery disquieting. Are market participants willing to overlook their fears to find comfort in central bank promises or hold out until true economic traction is recovered? Resilience will no doubt be put to the test moving forward; and positioning for the likes of equity indexes, Yen crosses and even crude oil prices will put to the test. We look at serious fundamental drivers ahead, the technical patterns primed for the right motivation and a special focus on crude's developments in today's Trading Video.

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