London Open Briefing: Thursday, October 29, 2026

European traders begin their session following a generally positive Asian equity performance. The JP225 gained 0.44%, with the US30 up 0.38%, UK100 up 0.37%, and DE40 up 0.36%. Gold, XAUUSD, saw a decline of 0.55%, while NZDUSD was down 0.17%. The overall risk meter stands at +0.14, suggesting a mild risk-on sentiment. In currency performance over 24 hours, CAD has been the strongest, up 0.34%, while JPY has been the weakest, down 0.22%.

The European session will see the release of Consumer Price Expectations for the Eurozone at 10:00 UTC, with consensus at 41.1 against a previous 35.2. Later, at 13:15 UTC, the ECB Deposit Facility Rate Decision is due, with the previous rate at 2.5%. The ECB Interest Rate Decision is also scheduled, with consensus at 2.65%, matching the previous 2.65%. A Monetary Policy Statement will accompany these decisions.

High-impact USD data is scheduled for 12:30 UTC. This includes Core PCE Price Index m/m, with a consensus of 0.3% against a previous 0.2%. GDP q/q is expected at 3.2%, up from 1.5% previously. The Core PCE Price Index y/y consensus is 3.1%, compared to 3% prior. Finally, GDP Sales q/q is anticipated at 2.7%, following a previous 2.8%. Crowd positioning data indicates shifts, with USDCAD seeing an 8pt move toward long, GBPJPY a 9pt shift toward short, BTCUSD a 10pt shift toward short, and GBPUSD a 9pt shift toward short.

Traders will closely monitor the ECB’s policy decisions and accompanying statement.

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.