London Open Briefing: Thursday, October 8, 2026
The London session opens with a clear risk-off tone, following declines across Asian equity markets. Japan’s JP225 fell by -1.59%, while European indices DE40 and UK100 are down -1.14% and -0.98% respectively. US futures also indicate weakness, with USTEC down -0.69% and US30 lower by -0.67%. This sentiment is underscored by gold, XAUUSD, gaining +0.49%, and the risk meter registering -0.21. In currency markets, the Japanese Yen and US Dollar are the strongest over the past 24 hours, up +0.29% and +0.23%, while the British Pound is the weakest, declining by -0.25%.
Early in the session, at 08:30 UTC, traders will observe FOMC Member Waller Speaks and the BoE Bank Liabilities Survey. This is followed by ECB Executive Board Member Lane Speech at 10:00 UTC. Later, at 12:00 UTC, Mexico’s CPI y/y is anticipated at 3.64%, up from the previous 3.26%, and CPI m/m is expected at 0.15%, down from 0.2%. A key event for the British Pound is BOE Gov Bailey Speaks at 12:15 UTC.
Retail positioning data shows disagreement on EURJPY by 21 points, GBPJPY by 21 points, and AUDUSD by 20 points. A notable shift occurred in GBPCHF, where the crowd flipped from 58% short to 51% long in the last 24 hours.
The 30-Year Bond Auction at 17:00 UTC, with a previous yield of 5.308%, stands as a significant item ahead.
| At a glance | |
|---|---|
| Biggest moves since the previous session | JP225 -1.59%, DE40 -1.14%, UK100 -0.98% |
| Currency strength, 24h | JPY strongest at +0.29%, GBP weakest at -0.25% |
| Risk meter | -0.21 (mildly risk-off) |
Scheduled this session (High and Medium impact)
| Time | Ccy | Event | Impact | Consensus |
|---|---|---|---|---|
| 08:30 UTC | USD | FOMC Member Waller Speaks | Medium | – |
| 08:30 UTC | GBP | BoE Bank Liabilities Survey | Medium | – |
| 08:30 UTC | USD | Fed Governor Waller Speech | Medium | – |
| 10:00 UTC | EUR | ECB Executive Board Member Lane Speech | Medium | – |
| 12:00 UTC | MXN | CPI y/y | Medium | 3.64% |
| 12:00 UTC | MXN | CPI m/m | Medium | 0.15% |
| 12:15 UTC | GBP | BOE Gov Bailey Speaks | High | – |
| 17:00 UTC | USD | 30-Year Bond Auction | High | – |
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.