London Open Briefing: Friday, November 6, 2026

The session opens with a risk-off tilt in currencies and a firmer tone in equity indices. USTEC is up 1.72% and JP225 is up 1.71% since the reference point, while DE40 is down 0.68%. XAUUSD is down 0.88%, AUDUSD is down 0.77% and NZDUSD is down 0.71%. Over 24 hours JPY leads currency strength at +0.96%, followed by USD at +0.77% and CHF at +0.45%, while AUD trails at -1.46% and NZD is at -0.95%. The risk meter reads -0.58 on a scale from -1 to +1.

Positioning has moved over the past 24 hours. The crowd book on USDX shifted 9pt toward short, and the book on XAUUSD shifted 9pt toward long. On USDCAD the book went from 55% long to 51% short, and on EURJPY it moved 8pt toward long.

No major releases have landed yet. Two speeches fall before the main data. ECB Executive Board Member Lane speaks at 09:30 UTC and BoE MPC Member Pill speaks at 12:15 UTC, both rated medium impact.

The key window is 13:30 UTC, when the US and Canadian labour reports arrive together. Nonfarm Payrolls has a consensus of 65K against a previous 29K. US Unemployment Rate is expected at 4.2%, unchanged, and Average Hourly Earnings m/m at 0.3% against 0.1%. In Canada, Employment Change is expected at 14.6K against a previous -68.3K, and the Unemployment Rate at 6.5%, unchanged. BOJ Governor Ueda speaks at 16:00 UTC.

The single most important item ahead is the 13:30 UTC Nonfarm Payrolls release, which lands alongside the Canadian jobs report.

Scheduled this session (High and Medium impact)

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.