London Open Briefing: Friday, October 23, 2026

London traders begin their Friday session following a mixed overnight period. The JP225 advanced +0.56%, while European and US equity futures, represented by the DE40 and US30, show declines of -0.50% and -0.47% respectively. In currency markets, USDCHF gained +0.36%, and XAUUSD, gold, moved -0.34% lower. The overall risk meter currently stands at +0.07, indicating a slightly risk-on tone despite some equity weakness.

The London session’s immediate focus turns to the UK with the release of Flash Services PMI and Flash Manufacturing PMI at 08:30 UTC. Consensus for Services PMI is 51.8, slightly above the previous 51.7. Manufacturing PMI consensus is also 51.8, a decrease from the prior 52.0. These figures will provide an early indication of UK economic activity.

Later in the day, attention will shift to a series of US data releases. At 13:45 UTC, the Flash Manufacturing PMI and Flash Services PMI are due. Manufacturing PMI consensus is 55.4, down from 57.0, while Services PMI consensus is 57.9, lower than the previous 58.7. Following these, the Michigan Consumer Sentiment index, along with Michigan Consumer Expectations, Inflation Expectations, and 5-Year Inflation Expectations, will be released at 14:00 UTC. Consensus figures for these Michigan surveys remain unchanged from their previous readings.

Traders will likely monitor the upcoming US Flash PMIs and Michigan sentiment data for further market direction.

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.