London Open Briefing: Friday, October 9, 2026
The London session opens with notable moves across the board. Gold, XAUUSD, has advanced +1.37%, while the JP225 index is up +1.16%. The USTEC also shows gains of +0.49%. In currency pairs, EURJPY is up +0.34%, AUDUSD has risen +0.33%, and GBPJPY is higher by +0.29%. The 24-hour currency strength meter shows AUD as the strongest performer at +0.21%, followed by NZD at +0.16%, while JPY and USD are the weakest, both down -0.27%. The risk meter currently stands at +0.00, indicating a neutral risk tone.
Ahead of the session, traders will monitor several key data releases. Brazil’s CPI y/y is due at 12:00 UTC, with a consensus of 4.46% following a previous 4.22%. High impact Canadian employment data follows at 12:30 UTC, including Employment Change, with a consensus of 6.1K against a previous -41.7K, and the Unemployment Rate, expected at 6.5% compared to the prior 6.4%. Later, at 13:30 UTC, ECB Executive Board Member Schnabel is scheduled to speak.
The US session will bring Michigan Inflation Expectations at 14:00 UTC, with a consensus of 4.3%, and Michigan Consumer Sentiment, expected at 44.7. Positioning shifts are also in focus. The crowd has flipped on USDJPY, moving from 52% long to 54% short in 24 hours. Retail books show a 20 point disagreement on AUDUSD. There has been a crowd shift on GBPJPY, with the book moving 8pt toward short, and a 10pt toward short shift on XAUUSD.
All eyes will be on the Canadian employment figures due this afternoon.
| At a glance | |
|---|---|
| Biggest moves since the previous session | XAUUSD +1.37%, JP225 +1.16%, USTEC +0.49% |
| Currency strength, 24h | AUD strongest at +0.21%, USD weakest at -0.27% |
| Risk meter | +0.00 (balanced) |
Scheduled this session (High and Medium impact)
| Time | Ccy | Event | Impact | Consensus |
|---|---|---|---|---|
| 12:00 UTC | BRL | CPI y/y | Medium | 4.46% |
| 12:30 UTC | CAD | Canada Employment Change | High | 6.1K |
| 12:30 UTC | CAD | Unemployment Rate | High | 6.5% |
| 13:30 UTC | EUR | ECB Executive Board Member Schnabel Speech | Medium | – |
| 14:00 UTC | USD | Michigan Inflation Expectations | Medium | 4.3% |
| 14:00 UTC | USD | Michigan 5-Year Inflation Expectations | Medium | 3.3% |
| 14:00 UTC | USD | Michigan Consumer Sentiment | Medium | 44.7 |
| 14:00 UTC | USD | Prelim UoM Inflation Expectations | Medium | – |
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.