London Open Briefing: Thursday, September 17, 2026

London traders begin the session following a generally risk-on tone, with major equity indices showing gains. The UK100 is up 0.80%, the US30 gained 0.72%, and the DE40 rose 0.64%. US tech and broader markets also advanced, with USTEC up 0.61% and US500 up 0.61%. Gold, XAUUSD, has seen a notable increase of 1.23%. The US Dollar remains the strongest currency over the last 24 hours, up 0.45%, while the Euro is down 0.22% and the British Pound is down 0.24%. The overall risk meter stands at +0.34.

The European session begins with key inflation data from the Eurozone. At 09:00 UTC, the CPI y/y is expected to remain at 2.8%, matching the previous figure. The Core CPI y/y is also anticipated to hold steady at 2.4%. The CPI m/m consensus is 2.9%, aligning with the prior reading. Retail positioning data shows a crowd shift of 8pt toward short on EURGBP over the past 24 hours.

Later in the session, focus shifts to the Bank of England at 11:00 UTC. The BoE Interest Rate Decision is expected to keep the rate at 3.75%, consistent with the previous decision. The MPC Official Bank Rate Votes are anticipated to show a 3-0-6 split, unchanged from the prior vote. The Monetary Policy Summary will also be released at this time. The British Pound has been among the weaker currencies in the last 24 hours.

Looking ahead to the North American session, the Philadelphia Fed Manufacturing Index is due at 12:30 UTC, with a consensus forecast of 19.5, a notable decrease from the previous 47.4. Retail books show a 26-point disagreement on XAUUSD, while the crowd has shifted 8pt toward short on XAUUSD and 8pt toward short on USDCAD in the last 24 hours.

Traders will closely monitor the Bank of England’s announcements for 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.