The FTSE 100’s recent gains reflect a cautiously optimistic market sentiment, buoyed by strong retail sales data and the BoE’s dovish stance. However, sentiment is also influenced by political uncertainties and upcoming economic data releases. Today is also triple witching day, which marks the expiry of certain options, and is synonymous with volatility.
The mood improved in London on Thursday after the Bank of England decided to leave interest rates steady for now, but left the door open to a first rate cut in August. The BoE’s decision follows data showing that inflation returned to its target of 2.0% in May, down from 2.3% in April. The FTSE 100 ended yesterday’s session up 0.8%.
The index opened slightly higher on Friday, but retreated a bit by mid-morning. UK retail sales volumes surged by 2.9% in May, significantly higher than the expected 1.5% increase, according to the Office for National…
