* Dollar pressure gives futures lift after G20 meeting
* September existing home sales on tap
* Futures up: S&P 6 pts, Dow 39 pts, Nasdaq 9.25 pts (Recasts, adds details)
By Leah Schnurr
NEW YORK, Oct 25 (Reuters) - Wall Street was set to rise at the open on Monday as the U.S. dollar fell after a meeting of the Group of 20 stopped short of setting targets to reduce trade imbalances.
At a meeting in South Korea, the G20 agreed to shun competitive currency devaluations, but stopped short of setting targets to reduce trade imbalances that are clouding global growth prospects.
The greenback slid broadly, while commodity prices surged after the G20 deal. The dollar was down 0.7 percent against a basket of currencies, while oil futures were up 1.2 percent at $82.65 a barrel.
"It's another day where we have that correlation in play of a weak dollar and strong stocks," said Jamie Cox, managing partner of Harris Financial Group in Colonial Heights, Virginia.
Equities and the dollar have developed a strong inverse relationship, and growing speculation the Federal Reserve will extend quantitative easing measures at its next meeting in November has pressured the dollar while boosting equities.
While the earnings season so far has looked strong, investors have been more focused on the macroeconomic picture than corporate earnings, Cox said.
S&P 500 futures rose 6 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 39 points, and Nasdaq 100 futures added 9.25 points.
Economic data on tap later Monday includes September existing home sales, which are expected to rise to 4.3 million from 4.13 million the month before.. The report will come at 10 a.m. EDT (1400 GMT) from the National Association of Realtors.
Fed Chairman Ben Bernanke said banking regulators are reviewing foreclosure practices at large financial institutions and will publish a report next month.
Meanwhile, Bank of America Corp acknowledged mistakes in foreclosure files as it began to resubmit documents in 102,000 cases, the Wall Street Journal reported.
Also in the financial sector, Citigroup Inc was up nearly 3 percent at $4.23 in premarket trading after Goldman Sachs added the stock to its "conviction buy list," saying the big bank faced limited loan repurchase risk compared with its peers.
The Select Sector Financial SPDR ETF was up 0.9 percent.
CommScope Inc jumped 33.7 percent to $30.90 after it said it was in talks for private equity firm Carlyle Group to acquire the communications cable maker and take it private.
Stocks capped a third straight week of gains on Friday as encouraging earnings helped the market sustain upward momentum, led by Baidu Inc, the latest technology company to beat estimates.