The FTSE is currently indicating a lower opening although there is no UK economic data today, the FTSE will be influenced by the release of the US employment numbers. Analysts are expecting a loss of 75 thousand jobs, after studying the economic reports we believe, that number is too optimistic. If the employment data comes out soft, watch for the FTSE and all the other major stock exchanges to finish the day deep in the red.
Oil has continued its free fall and a lot of it can be credited to the latest wave of strong US dollar sentiment. With the GBP/USD now trading below 1.80 dollar mark, the US dollar has appreciated by more then 10% in the last 4 weeks. Traders will be analyzing today's employment data very carefully, to see if the recovery was warranted.
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