London Open Briefing: Friday, October 16, 2026
London opens with NZDUSD up 0.66% and AUDUSD up 0.49% since the reference point, as the risk meter registers a slight risk-on tone at +0.07. Gold, XAUUSD, also advanced 0.42%, while USTEC gained 0.36%. GBP pairs, GBPUSD and GBPJPY, saw increases of 0.33% and 0.27% respectively, with NZD showing the most strength over 24 hours at +0.50%.
Attention now shifts to the Eurozone, with several key releases scheduled for 09:00 UTC. The CPI y/y is expected at 2.9%, matching the previous figure. CPI m/m is anticipated at 3.2%, also unchanged from previous. Core CPI y/y is forecast at 2.5%, consistent with the prior reading, and Core CPI previous was 103.3. The Trade Balance n.s.a. is projected at -0.2B, a notable shift from the previous 14.2B. Later, at 12:15 UTC, Canada’s CMHC Housing Starts are due, with a consensus of 259.628K. The US follows at 12:30 UTC with Export Price Index m/m consensus at 3.1% and Import Price Index m/m consensus at 0.4%. Retail books show disagreement on EURJPY by 20 points and on GBPJPY by 21 points. The crowd shifted 8 points toward short on XAUUSD and 8 points toward long on EURUSD over 24 hours.
Traders will likely focus on the Eurozone’s CPI y/y release.
| At a glance | |
|---|---|
| Biggest moves since the previous session | NZDUSD +0.66%, AUDUSD +0.49%, XAUUSD +0.42% |
| Currency strength, 24h | NZD strongest at +0.50%, USD weakest at -0.37% |
| Risk meter | +0.07 (mildly risk-on) |
Scheduled this session (High and Medium impact)
| Time | Ccy | Event | Impact | Consensus |
|---|---|---|---|---|
| 09:00 UTC | EUR | CPI y/y | High | 2.9% |
| 09:00 UTC | EUR | CPI m/m | Medium | 3.2% |
| 09:00 UTC | EUR | Core CPI y/y | Medium | 2.5% |
| 09:00 UTC | EUR | Core CPI | Medium | – |
| 09:00 UTC | EUR | Trade Balance n.s.a. | Medium | -0.2B |
| 12:15 UTC | CAD | CMHC Housing Starts | Medium | 259.628K |
| 12:30 UTC | USD | Export Price Index m/m | Medium | 3.1% |
| 12:30 UTC | USD | Import Price Index m/m | Medium | 0.4% |
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.