London Open Briefing: Monday, October 26, 2026
The London trading session opens with a mixed sentiment following the Asian close. The JP225 declined by -0.71%, while European indices saw gains, with the DE40 up +0.60% and the UK100 rising +0.41%. Gold, XAUUSD, gained +0.37%, contrasting with a -0.32% dip in the USTEC. The broader market tone is slightly risk-off, indicated by the risk meter at -0.09. In currency markets, the EUR, CHF, and USD show strength, up +0.12%, +0.11%, and +0.10% respectively over the last 24 hours, while the JPY is the weakest, down -0.13%, and the NZD also fell -0.20%.
Ahead in the session, attention turns to Germany’s Ifo data at 09:30 UTC. The Ifo Business Expectations are expected at 90.4, matching the previous figure. The Ifo Current Business Situation is anticipated at 89.7, a slight increase from the previous 89.5. The overall Ifo Business Climate is forecast at 87.5, down from the prior 89.9. Later, the BCB Focus Market Report for BRL is due at 11:30 UTC, followed by a 2-Year Note Auction for USD at 17:00 UTC, with the previous auction yielding 4.787%. Retail positioning shows notable disagreement across several pairs, including 22 points on USDCHF, 24 points on GBPJPY, 28 points on AUDUSD, and 21 points on USDCAD.
Traders will closely monitor the German Ifo releases for immediate market reaction.
| At a glance | |
|---|---|
| Biggest moves since the previous session | JP225 -0.71%, DE40 +0.60%, UK100 +0.41% |
| Currency strength, 24h | EUR strongest at +0.12%, JPY weakest at -0.13% |
| Risk meter | -0.09 (mildly risk-off) |
Scheduled this session (High and Medium impact)
| Time | Ccy | Event | Impact | Consensus |
|---|---|---|---|---|
| 09:30 UTC | EUR | Germany Ifo Business Expectations | Medium | 90.4 |
| 09:30 UTC | EUR | Germany Ifo Current Business Situation | Medium | 89.7 |
| 09:30 UTC | EUR | Germany Ifo Business Climate | Medium | 87.5 |
| 11:30 UTC | BRL | BCB Focus Market Report | Medium | – |
| 17:00 UTC | USD | 2-Year Note Auction | 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.