Friday preview: US non-farm payroll in focus as Greece's day of reckoning looms

LONDON (ShareCast) - The latest US non-farm payrolls figures will dominate Friday's economic calendar, as investors Stateside look for clues over the timing of the first rates hike by the Federal Reserve. Economists estimate the US economy added 227,000 jobs in May compared to 223,000 in April. If their forecasts for more growth in jobs are met, it may help to cement expectations the Federal Reserve will start raising interest rates come September.

"Despite the bearish trading atmosphere in regards indices, the hammering the dollar is getting has helped the US futures hold back more excessive losses," said Connor Campbell, financial analyst at Spreadex. "It will be interesting to see how this situation manifests itself once the latest jobless claims and revised non-farm productivity data are released.

"Another high figure in the former should extend the dollar declines and therefore, in theory, push the Dow into the green." The unemployment rate is estimated to hold at 5.4% in May. Closer to home, Friday also sees the deadline for Greece's final €300m payment to the International Monetary Fund.

Athens is still negotiating with its international creditors over a series of reforms and cuts that would unlock a further €7.5bn of financial aids, but could run out of cash if the payment is made without further bailout funds being released.

The Greek prime minister Alexis Tsipras and IMF managing director Christine Lagarde both expressed renewed optimism that Athens will reach a deal with its international creditors, although analysts suggest that negotiations will go down the wire.

In company news, Card Factory (LSE: CARD.L - news) and James Halstead (LSE: JHD.L - news) will report their interim results.

INTERIM DIVIDEND PAYMENT DATE Card Factory, James Halstead INTERNATIONAL ECONOMIC ANNOUNCEMENTS Consumer Credit (US) (20:00) Factory Orders (GER) (11:00) Non-Farm Payrolls (US) (13:30) Unemployment Rate (US) (13:30) FINALS Halfords Group (LSE: HFD.L - news) , KCOM Group (LSE: KCOM.L - news) ANNUAL REPORT National Grid (LSE: NG.L - news) , Northern 3 VCT, Prime People (LSE: PRP.L - news) SPECIAL DIVIDEND PAYMENT DATE Octopus AIM VCT 2 AGMS Cathay International Holdings Ltd., EU Supply (LSE: EUSP.L - news) , Global Fixed Income Realisation Limited, IG Seismic Services GDR (Reg S), M. P. Evans Group, Mail.ru Group Ltd GDR (Reg S), MD Medical Group Investments GDR (Reg S), OJSC Novolipetsk Steel GDS (Reg S), TCS Group Holding GDR (Each Repr 1 A Shr) (Reg S), Volga Gas (LSE: VGAS.L - news) TRADING ANNOUNCEMENTS Alpha Pyrenees Trust Ltd., Halfords Group FINAL DIVIDEND PAYMENT DATE Barr (A.G.), Burford Capital (Other OTC: BRFRF - news) , Card Factory, Clarkson (LSE: CKN.L - news) , Exova Group (LSE: EXO.L - news) , Goals Soccer Centres (LSE: GOAL.L - news) , H&T Group (LSE: HAT.L - news) , Highcroft Investment, Intertek Group (Other OTC: IKTSF - news) , Invesco Perpetual UK Small Companies Inv Trust, Konami Corp., Learning Technologies Group , Lookers (LSE: LOOK.L - news) , Maven Income & Growth 3 VCT, Maven Income & Growth 4 VCT, Maven Income and Growth VCT 5, Merlin Entertainments (LSE: MERL.L - news) , Neptune-Calculus Income & Growth VCT, Ocean Wilsons Holdings Ltd., Octopus AIM VCT 2, OneSavings Bank (LSE: OSB.L - news) , Playtech (LSE: PTEC.L - news) , Porvair (LSE: PRV.L - news) , Rightmove (LSE: RMV.L - news) , SDL (LSE: SDL.L - news) , SThree (LSE: STHR.L - news) , William Hill (Other OTC: WIMHF - news)