London Open Briefing: Friday, July 24, 2026
The London session opens with mixed sentiment following the Asian close, where the JP225 declined by 0.55%. European equities show some strength, with the DE40 up 0.47% and the UK100 gaining 0.32%, mirroring a 0.31% rise in the US30. In currency markets, the NZDUSD has advanced 0.29% and AUDUSD is up 0.27% since the reference point, though the US Dollar remains the strongest currency over the past 24 hours with a +0.34% gain, while the New Zealand Dollar is the weakest at -0.27%. The risk meter currently registers +0.04, indicating a slightly risk-on tone as traders begin their day.
Recent data releases include France’s S&P Global PMIs. The Composite PMI came in at 49.6, exceeding the 47.6 consensus. However, the Services PMI was 49.8, below the 51.4 consensus, while the Manufacturing PMI met expectations at 50. From Sweden, the Unemployment Rate rose to 9.9%, higher than the 9.1% consensus, and PPI y/y was 7.4%, above the 6.5% consensus. PPI m/m also showed a 0.1% increase.
Looking ahead, key data for the Eurozone is due at 08:00 UTC, with the release of the broader S&P Global Composite PMI, expected at 51.6, alongside the Manufacturing PMI and Services PMI. Shortly after, at 08:30 UTC, the UK will release its S&P Global/CIPS Manufacturing PMI, with a consensus of 52.8, the Composite PMI, and the Services PMI, expected at 50. Additionally, the Flash Manufacturing PMI and Flash Services PMI for the UK are also scheduled.
Traders will closely monitor the upcoming Eurozone S&P Global Composite PMI for further directional cues.
| At a glance | |
|---|---|
| Biggest moves since the previous session | JP225 -0.55%, DE40 +0.47%, UK100 +0.32% |
| Currency strength, 24h | USD strongest at +0.34%, NZD weakest at -0.27% |
| Risk meter | +0.04 (balanced) |
Scheduled this session (High and Medium impact)
| Time | Ccy | Event | Impact | Consensus |
|---|---|---|---|---|
| 08:00 UTC | EUR | S&P Global Composite PMI | Medium | 51.6 |
| 08:00 UTC | EUR | S&P Global Manufacturing PMI | Medium | 50.9 |
| 08:00 UTC | EUR | S&P Global Services PMI | Medium | 51.1 |
| 08:30 UTC | GBP | S&P Global/CIPS Manufacturing PMI | Medium | 52.8 |
| 08:30 UTC | GBP | S&P Global/CIPS Composite PMI | Medium | – |
| 08:30 UTC | GBP | S&P Global/CIPS Services PMI | Medium | 50 |
| 08:30 UTC | GBP | Flash Manufacturing PMI | Medium | 52.0 |
| 08:30 UTC | GBP | Flash Services PMI | Medium | 49.4 |
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.