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FTSE 100 Continues to Climb Ahead of Thursday’s BoE Rate Decision

Sam Boughedda trader
Updated 29 Jul 2024

The FTSE 100 has started the week beginning Monday, July 29, 2024, strongly. The index is currently up 0.5% to 8,327.50 just after the opening bell, picking up from where it left off on Friday, where London’s blue-chip index rallied 1.21%, climbing 99.36 points to close the week at 8285.71.

EARNINGS RELEASES & ECONOMIC EVENTS

On the economic calendar, there are a few data points to watch out for this week. For the UK, mortgage approvals data will be released today at 09:30 a.m., while on Thursday, the Nationwide Housing Price Index will be posted at 07:00 a.m., followed by the Bank of England interest rate decision at midday. 

Meanwhile, the US interest rate decision will be at 07:00 p.m. on Wednesday, while non-farm payroll data will be released on Friday at 01:30 p.m.

On the earnings front, there are some well-known names in UK corporate diary. BP, Fresnillo, Rio Tinto, HSBC, and Taylor Wimpey are just some of the names set to post financial updates this week.  

FOREX & GOLD

As of 08:04 am, the pound has gained around 0.03% to 1.2866 after closing Friday’s session up  0.09% at 1.2862. The euro has edged higher, rising 0.03% to 1.0858 after it closed Friday up 0.08% at 1.0854. 

Gold is currently at $2,391, rising around 0.17% from Friday’s close. 

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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples. 
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