Britain’s FTSE 100 index is seen opening 3 to 13 points lower on Friday, according to financial bookmakers. This is after a long rally of 169 points on Thursday to close at 4124 after strong G20-inspired gains in the past two sessions with all eyes on the latest U.S. jobs report. This is the first time in six weeks the FTSE has climbed above the 4000 level. World leaders set out a $1.1 trillion package to help revive the global economy on Thursday.
Dow News: Investors dove into stocks Thursday, extending a rally that gave the Dow Jones Industrial Average its best four weeks since 1933. Stocks rose across the board in heavy trading following an accounting rule change that will help banks pare their losses and after commitments from world leaders to toughen regulatory oversight of financial institutions. The Dow broke through 8,000 for the first time since Feb. 9 but ended slightly below that level ahead of the government’s employment report Friday that could easily upset the market if it comes in below forecasts — or send prices rocketing higher if it’s better than expected.
Significant Forex-related news released today: At 9am, we see Halifax HPI m/m figures out of the UK, forecast at -1.9 %, from -2.3% previous, and also Services PMI at 9.30am forecast at 43.6 from 43.2 previous. Out of the US we see Non Farm Payrolls (March) due out at 1.30pm today, forecast at -659K from previous -651K. The US Unemployment Rate, also released at 1.30pm, is forecast at 8.5% vs. 8.1% previously. Finally, US ISM Manufacturing (Mar) numbers are released at 3pm, forecast at 41.9 vs. 41.6 previously.
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