UK stocks are expected to open in positive territory this morning after Wall Street again moved higher, and the Dow Jones set another new all time high.
In America traders are expecting to see an improvement in tomorrow’s key non-farm jobs number after a private survey of payroll data drew positive conclusions.
The US Federal Reserve has played its part in the resurgence of American stocks as the central bank’s stimulus regime continues to support sentiment and prop up the market.
Meanwhile in Asia, where the Bank of Japan has yet to bring in new stimulus, stocks moved lower as the strong US dollar has weighed on sentiment.
“Asian markets have mostly drifted lower ahead of what could be a key night in the global macro space,” said Chris Weston, market strategist at IG Markets.
“Although US markets just managed to edge higher, it was always going to be a struggle for Asia to hold on to gains given the effect a firmer USD had on risk.”
Here in the UK, there is still some way to go before the FTSE 100 start to approach its all time highs.
The blue chip benchmark is expected to nudge higher on the open with IG Markets predicting the open at around 6,435 – up around 17 points.