London Open Briefing: Friday, September 4, 2026
The London session opens with JPY crosses showing strength, as GBPJPY advanced +0.43%, EURJPY gained +0.31%, and USDJPY rose +0.31%. Equity indices also saw movement, with the USTEC up +0.43% and JP225 up +0.41%, while the UK100 dipped -0.19%. The broader market sentiment is slightly risk-on, with the risk meter at +0.09. Over the last 24 hours, NZD has been the strongest currency, up +0.33%, while USD has been the weakest, down -0.39%.
Recent data releases saw Sweden’s Current Account at 126.2B, significantly above the 89.4B consensus. German Factory Orders year over year surprised positively at 13.1% against a -2.7% consensus, though month over month orders came in at 2.5%, below the 2.9% consensus. Japan’s Household Spending showed a mixed picture, with year over year at -3.6% against a -1.6% consensus, but month over month at 0.5% against a -3.9% consensus. The US Trade Balance was reported at -88.6B.
Ahead in the London session, the S&P Global/CIPS Construction PMI for GBP is due at 08:30 UTC, with consensus at 39.2. Traders will also be watching for BOE Gov Bailey Speaks at 08:50 UTC. Later in the day, high impact data includes Canada’s Employment Change and Unemployment Rate, alongside the US Non-Farm Payrolls, US Unemployment Rate, and US Average Hourly Earnings m/m, all scheduled for 12:30 UTC.
The most important item ahead for the day is the US Non-Farm Payrolls release.
| At a glance | |
|---|---|
| Biggest moves since the previous session | GBPJPY +0.43%, USTEC +0.43%, JP225 +0.41% |
| Currency strength, 24h | NZD strongest at +0.33%, USD weakest at -0.39% |
| Risk meter | +0.09 (mildly risk-on) |
Scheduled this session (High and Medium impact)
| Time | Ccy | Event | Impact | Consensus |
|---|---|---|---|---|
| 08:30 UTC | GBP | S&P Global/CIPS Construction PMI | Medium | 39.2 |
| 08:50 UTC | GBP | BOE Gov Bailey Speaks | High | – |
| 08:50 UTC | GBP | BoE Governor Bailey Speech | High | – |
| 12:30 UTC | CAD | Canada Employment Change | High | 15.1K |
| 12:30 UTC | USD | Non-Farm Payrolls | High | 55K |
| 12:30 UTC | CAD | Unemployment Rate | High | 6.4% |
| 12:30 UTC | USD | US Unemployment Rate | High | 4.1% |
| 12:30 UTC | USD | US Average Hourly Earnings m/m | High | 0.3% |
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.