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Investors await US non-farm payroll figures

Stock market investors have been looking to move away from riskier assets ahead of the release of non-farm payroll data in the US later today.

This is according to Joshua Raymond of City Index, who noted that those using their personal wealth to trade in stocks have been avoiding banking and mining shares.

Instead, he observed, there has been a ’significant move’ towards defensive assets such as the yen and dollar over the past 48 hours.

’Dollar strength has seen the sterling/dollar reach a new nine-month low today,’ he stated, adding that this has had a knock-on affect on the prices of commodities such as gold.

The release of payroll figures in the US this afternoon is key, Mr Raymond continued, as traders are waiting to see whether they will be strong enough to ease fears regarding the economic recovery.

At 09:05 GMT, the FTSE 100 was down by one per cent, with Reuters reporting that the fall was led by mining sector firms, including Vedanta Resources, Antofagasta and Rio Tinto.

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