London Open Briefing: Friday, July 17, 2026
London traders begin their session following a generally weaker tone across global equity markets. The JP225 declined by 2.71%, while US indices also saw losses, with the USTEC down 1.36%, the US500 down 0.69%, and the US30 down 0.52%. European equities also moved lower, with the DE40 down 0.35%. Gold, XAUUSD, gained 0.52%, indicating a shift toward perceived safe-haven assets. The risk meter stands at -0.01, reflecting a slight risk-off sentiment. In currency markets, the USD gained 0.20% and JPY gained 0.10% over the last 24 hours, while GBP was notably weaker, down 0.36%. Retail books show a 13-point shift toward short positions on EURJPY and a 9-point shift toward long positions on USDCHF. Retail books also show a 23-point disagreement on USDCHF and a 24-point disagreement on GBPJPY.
Overnight, New Zealand’s Food Price Index m/m was released at 0.6%, below the consensus of 1.1%. Looking ahead, the European session will focus on a series of inflation data releases at 09:00 UTC, including CPI y/y with a consensus of 3%, CPI m/m with a consensus of 3.2%, and Core CPI y/y with a consensus of 2.4%. The previous Core CPI reading was 102.9.
Later in the New York session, several USD data points are scheduled for 12:30 UTC, including Export Price Index m/m with a consensus of 1.4%, Housing Starts m/m with a consensus of -3.8%, and Import Price Index m/m with a consensus of 1.6%. At 13:15 UTC, the Fed Industrial Production m/m is expected with a consensus of 0.2%.
Traders will be closely watching the CPI y/y release for the Eurozone at 09:00 UTC.
| At a glance | |
|---|---|
| Biggest moves since the previous session | JP225 -2.71%, USTEC -1.36%, US500 -0.69% |
| Currency strength, 24h | CAD strongest at +0.28%, GBP weakest at -0.36% |
| Risk meter | -0.01 (balanced) |
Scheduled this session (High and Medium impact)
| Time | Ccy | Event | Impact | Consensus |
|---|---|---|---|---|
| 09:00 UTC | EUR | CPI y/y | High | 3% |
| 09:00 UTC | EUR | CPI m/m | Medium | 3.2% |
| 09:00 UTC | EUR | Core CPI y/y | Medium | 2.4% |
| 09:00 UTC | EUR | Core CPI | Medium | – |
| 12:30 UTC | USD | Export Price Index m/m | Medium | 1.4% |
| 12:30 UTC | USD | Housing Starts m/m | Medium | -3.8% |
| 12:30 UTC | USD | Import Price Index m/m | Medium | 1.6% |
| 13:15 UTC | USD | Fed Industrial Production m/m | Medium | 0.2% |
Times are UTC. This brief describes measured market state and the published schedule. It is not financial advice and nothing in it is a trade recommendation.