London Open Briefing: Monday, August 3, 2026
The London session opens with JPY showing notable strength, leading declines across yen crosses. GBPJPY is down -0.73%, EURJPY -0.67%, and USDJPY -0.49% since the reference point, reflecting JPY’s +0.55% 24-hour currency strength. This follows a mixed Asian session where the JP225 gained +0.56% while several manufacturing PMI releases disappointed consensus expectations.
Earlier data saw Spain’s S&P Global Manufacturing PMI come in at 50.2 against a 51.5 consensus, a -2.5% surprise. The Silf/Swedbank Manufacturing PMI for SEK also missed at 55.8 versus 57.7. Swiss CPI y/y was in line at 0.4%, though m/m registered -0.1% against a 0% consensus. Further manufacturing PMI misses were seen from India and China.
Attention now turns to a series of European manufacturing PMI releases. Italy’s S&P Global Manufacturing PMI is due at 07:45 UTC, with consensus at 53.1. France and Germany’s S&P Global Manufacturing PMIs follow shortly after, with the Eurozone aggregate S&P Global Manufacturing PMI expected at 52 at 08:00 UTC. The UK’s S&P Global/CIPS Manufacturing PMI is set for 08:30 UTC, with a consensus of 52.8.
Later in the session, traders will focus on high-impact US manufacturing data, including the S&P Global Manufacturing PMI at 13:45 UTC and the ISM Manufacturing PMI at 14:00 UTC.
| At a glance | |
|---|---|
| Biggest moves since the previous session | GBPJPY -0.73%, EURJPY -0.67%, JP225 +0.56% |
| Currency strength, 24h | JPY strongest at +0.55%, CHF weakest at -0.21% |
| Risk meter | +0.02 (balanced) |
Scheduled this session (High and Medium impact)
| Time | Ccy | Event | Impact | Consensus |
|---|---|---|---|---|
| 07:45 UTC | EUR | Italy S&P Global Manufacturing PMI | Medium | 53.1 |
| 07:50 UTC | EUR | France S&P Global Manufacturing PMI | Medium | 50 |
| 07:55 UTC | EUR | Germany S&P Global Manufacturing PMI | Medium | 52.2 |
| 08:00 UTC | EUR | S&P Global Manufacturing PMI | Medium | 52 |
| 08:30 UTC | GBP | S&P Global/CIPS Manufacturing PMI | Medium | 52.8 |
| 13:45 UTC | USD | S&P Global Manufacturing PMI | High | 54.5 |
| 14:00 UTC | USD | ISM Manufacturing PMI | High | 54.0 |
| 14:00 UTC | USD | ISM Manufacturing Prices Paid | High | 65.7 |
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.