The FTSE 100 and European equities have started the week beginning Monday, August 12, 2024, where they left off, with London’s blue-chip index gaining 0.5% shortly after the open, rising to 8,209.65. On Friday, the FTSE 100 rose by 0.28% to 8168.1, climbing 23.1 points.
Overall, indices began to recover from around Tuesday last week, following a sell-off due to weak US jobs data prompting worries about the economy. That recovery seems to be continuing so far on Monday.
EARNINGS RELEASES & ECONOMIC EVENTS
On the economic calendar, the UK will report unemployment data on Tuesday, inflation on Wednesday, GDP on Thursday, and retail sales on Friday, making it a busy week for those interested in the health of the UK economy. Meanwhile, the US will also report its inflation data on Wednesday.
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On the earnings front, there are still several well-known names in the UK corporate diary that are set to update the market this week. Some of those names include Flutter Entertainment, Aviva, and Balfour Beatty.
FOREX & GOLD
As of 08:04 am, the GBPUSD has risen by around 0.04% to 1.2762 after closing Friday’s session up 0.07% at 1.2757. The EURUSD has also edged higher, rising 0.07% to 1.0923 after closing down on Friday by 0.04%, closing the week at 1.0914.
Gold is currently at $2,436, rising around 0.19% 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.
