London Open Briefing: Thursday, October 22, 2026

The London open on Thursday, October 22, 2026, follows a session marked by broad declines across equity and commodity markets. The JP225 fell -2.42%, while the USTEC was down -1.20%. Gold, XAUUSD, also saw a -0.85% decline. This backdrop has contributed to a risk-off sentiment, with the FXC Risk Meter currently at -0.25, and the Japanese Yen showing strength, up +0.45% over 24 hours. JPY crosses reflected this, with USDJPY down -0.79%, GBPJPY -0.69%, and EURJPY -0.68%.

Attention now turns to North American data releases. At 12:30 UTC, the United States will release Continuing Jobless Claims, with a consensus of 1.723M against a previous 1.71M, alongside Initial Jobless Claims, expected at 200K compared to the prior 199K. Canada will also publish its New Housing Price Index m/m at the same time, with both consensus and previous figures at -0.1%. Later, at 14:00 UTC, the CB Leading Economic Index m/m for the United States is due, with a consensus of 0% following a previous -0.1%. A 5-Year TIPS Auction for the United States is scheduled for 17:00 UTC, with the previous yield at 1.955%.

Beyond the Yen, the Swiss Franc is also stronger, up +0.31%, while the US Dollar and Australian Dollar are notably weaker, both down -0.33% over 24 hours. Retail positioning data indicates shifts, with the crowd moving 8pt toward long on GBPCHF and 9pt toward long on USDCHF. Conversely, the crowd shifted 9pt toward short on EURUSD. On GBPJPY, retail books show a 22 point disagreement.

Traders will likely focus on the upcoming US jobless claims data for immediate market direction.

Scheduled this session (High and Medium impact)

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.