* Dollar edges lower on Fed easing hopes
* IMF fails to agree on global imbalance plan
* Futures up: Dow 14 pts, S&P 1.7 pts, Nasdaq 3.5 pts (Updates prices, adds Eli Lilly)
By Chuck Mikolajczak
NEW YORK, Oct 11 (Reuters) - Wall Street was set for a slightly higher open on Monday as expectations solidified that the U.S. Federal Reserve would take further action to bolster the economic recovery.
The dollar slipped as the Fed looked set to pursue loose monetary policy to support the U.S. economy, although with bets against the greenback piling up, traders were wary about pushing it lower. The dollar and equities have been inversely correlated as investors leave the perceived safety of the greenback and put money into equities.
"It's dollar down, stocks up, and now the view that seems to be taking hold is that central banks throughout the world are going to continue to be accommodative, if not be more accommodative than they have been," said Hugh Johnson, chief investment officer of Hugh Johnson Advisors LLC in Albany, New York.
"The stimulus from central banks throughout the world gives everyone the belief the market is going to be headed higher."
Still, there were worries over the monetary tightening after China, the world's No. 2 economy, raised reserve requirements for six large commercial banks on a temporary basis in a move to drain cash from the economy but avoid overtightening, sources told Reuters.
The dollar was also affected by discord in international currency policies after the International Monetary Fund's member countries failed to agree on a concrete plan to tackle global imbalances at multilateral meetings over the weekend.
S&P 500 futures gained 1.7 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 advanced 14 points, and Nasdaq 100 futures rose 3.5 points.
CNOOC Ltd, China's top offshore oil producer, will pay $1.1 billion for a stake in a Chesapeake Energy Corp shale oil and gas field. Chesapeake climbed 6.7 percent to $24.60 in premarket trade.
Chinese solar wafer maker LDK Solar Co Ltd raised its revenue outlook and named a new chief financial officer. The stock jumped 9.5 percent to $10.73.
Microsoft Corp edged up 0.6 percent to $24.72 premarket as it is set to unveil a new line of phones running its Windows software on smartphones that will initially be available on AT&T Inc's network.
Eli Lilly and Co dipped nearly 1 percent to $36.78 premarket after the drugmaker dropped plans to seek approval for its established drug Alimta as a treatment for head and neck cancer after the medicine failed in a late-stage clinical trial.