Across the Atlantic, U.S. non-farm payrolls data, due at 1330 GMT, is expected to show a rise of 205,000 and any surprise to the upside is seen strengthening bets for continued aggressive interest rate hikes.
The FTSE 100 is set to the end the week down about 2.8% in what could be its worst week since September, as worries around hawkish central banks sapped risk appetite."We see a lower likelihood of major tax or spending measures next week. More significant fiscal pledges are likely to be reserved for the next Autumn Statement or the Conservatives' next election manifesto," said economists at Goldman Sachs.
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This does not look good.