London Open Briefing: Friday, October 30, 2026
The session hands off with a soft tone across indices and metals. Since the reference point, JP225 is down 1.26%, XAUUSD is down 0.81%, USTEC is down 0.73%, DE40 is down 0.53%, US500 is down 0.45% and USDCHF is down 0.23%. The risk meter reads -0.07 on a scale from -1 risk-off to +1 risk-on, which is close to neutral. Over 24 hours CHF leads currency strength at +0.57%, followed by GBP at +0.40% and EUR at +0.18%. AUD is the weakest at -0.63%, and USD is at -0.30%.
The European window opens with German labour data at 08:55 UTC. Germany Unemployment Change has a consensus of 2K against a previous 12K. The Unemployment Rate is expected at 6.4%, unchanged from the previous reading, and total Unemployment has a consensus of 3.004M against 3.012M previously. At 09:00 UTC, German Prelim GDP q/q has a consensus of 0.1%, down from 0.2% previously.
At 10:00 UTC, the Euro Area Flash GDP release includes GDP q/q with a consensus of 0.3% against 0.6% previously, and GDP y/y at 1.2%, matching the previous figure. EUR pairs are the natural place to see how these prints are received.
On positioning, the retail book on XAUUSD moved 9pt toward long in 24 hours, while XAGUSD moved 9pt toward short. Retail books disagree by 20 points on both USDCAD and GBPJPY.
The single most important item ahead for the USD side of the session is the MNI Chicago Business Barometer at 13:45 UTC, with a consensus of 61.3 against a previous 58.8.
| At a glance | |
|---|---|
| Biggest moves since the previous session | JP225 -1.26%, XAUUSD -0.81%, USTEC -0.73% |
| Currency strength, 24h | CHF strongest at +0.57%, AUD weakest at -0.63% |
| Risk meter | -0.07 (mildly risk-off) |
Scheduled this session (High and Medium impact)
| Time | Ccy | Event | Impact | Consensus |
|---|---|---|---|---|
| 08:55 UTC | EUR | Germany Unemployment Change | Medium | 2K |
| 08:55 UTC | EUR | Germany Unemployment Rate | Medium | 6.4% |
| 08:55 UTC | EUR | Germany Unemployment | Medium | 3.004M |
| 09:00 UTC | EUR | German Prelim GDP q/q | Medium | 0.1% |
| 10:00 UTC | EUR | Euro Area Flash GDP q/q | Medium | – |
| 10:00 UTC | EUR | GDP y/y | Medium | 1.2% |
| 10:00 UTC | EUR | GDP q/q | Medium | 0.3% |
| 13:45 UTC | USD | MNI Chicago Business Barometer | High | 61.3 |
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.