Meanwhile, a policy meeting of the Federal Reserve should also grab some attention, and traders will likely focus on the accompanying statement for clues to the Fed's assessment of the economy.
In March, the Fed announced it would buy longer-term U.S. government debt, sending the dollar sharply lower.
"(Investors) want to know how long this quantitative easing is going to last," adds Melvin Harris, market strategist at Advanced Currency Markets in New York. "People want clarity and they want to know what the Fed's expectations are for the global economy."
In fact the IMF already sees a few rays of light. "There has been some improvement in business confidence, some signs of bottoming out in housing market,” says Charles Collyns, IMF's deputy director of research.
But don’t get too excited. He also says these are early days and we should not expect a return to growth any time soon. "We don't expect a return to positive growth in the U.S. until some time next year."
What’s the bottom line? Chris Thornberg, of Beacon Economics says we’re starting to turn the corner. “The fundamentals of the downturn are hitting a level of stability.”
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Trader disclosure: On Apr 24th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (SDS), (AGN), (WYNN), (GE), (LVS), (WFC); Seymour Owns (BAC), (EEM), (FXI); Seymour Is Short (AAPL); Finerman's Firm Owns (AXP), (RIG), (UNH), (TBT); Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (C) Preferred; Finerman's Firm Owns(MSFT) & (MSFT) Put Spread; Finerman's Firm Owns (WFC) Preferred; Finermans Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Najarian Owns (ANR) CAll Sprad; Najarian Owns (BX) Call Spread; Najarian Owns (MS) & (MS) Calls; Najarian Owns (PCU) Call Spread; Najarian Owns (PALM); Najarian Owns (RIO) Calls; Najarian Owns (XHB) Cal Spread; Najarian Owns (XLB) Call Spread