London Open Briefing: Thursday, September 10, 2026

The London session opens with a generally positive tone carried over from Asian trading, as equity markets saw gains. The JP225 advanced by 1.24%, with the US30 up 0.30% and the UK100 gaining 0.28%. Gold, XAUUSD, also rose by 0.24%, while NZDUSD saw a 0.21% increase. The risk meter currently stands at -0.18, indicating a slightly cautious sentiment despite the equity gains. In currency strength over the last 24 hours, EUR leads with a 0.11% gain, followed by USD at 0.10%.

Recent data releases include Spain’s Industrial Production y/y, which came in at 2.3% against a consensus of 2.4%. Sweden saw mixed industrial figures, with Industrial Production y/y at 0.6% against a consensus of -0.1%, but Industrial Production m/m fell by -3.6% compared to a 3% consensus. Private Sector Production y/y for Sweden was 3.6%, while Industrial New Orders y/y registered -0.5%.

Looking ahead, the European Central Bank is central to today’s calendar. The ECB Deposit Facility Rate Decision and the ECB Interest Rate Decision are scheduled for Thu 12:15 UTC, with the latter having a consensus of 2.65% from a previous 2.40%. These will be followed by the ECB Monetary Policy Press Conference at Thu 12:45 UTC. For the US, PPI m/m and Core PPI m/m are due at Thu 12:30 UTC, with consensus figures of 0.4% and 0.3% respectively. Later, EIA Crude Oil Stocks Change is expected at Thu 16:00 UTC.

Retail positioning shows disagreement by 20 points on EURGBP and XAUUSD, and by 29 points on GBPJPY. The crowd shift on NZDUSD indicates the book moved 10pt toward short in the last 24 hours.

Traders will primarily focus on the ECB’s rate decisions and subsequent press conference today.

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.