London Open Briefing: Wednesday, August 12, 2026

The London session opens with a mixed but generally positive tone across equity markets, while the risk meter indicates a slight risk-off sentiment at -0.01. Asian equities saw gains, with the JP225 up +0.94% and the USTEC rising +0.31%. European indices also show modest strength, with the DE40 up +0.25% and the UK100 gaining +0.16%. Gold, XAUUSD, is trading higher by +0.56%. In currency markets, the NZD is the weakest over 24 hours, down -0.14%, while the AUD is the strongest, up +0.16%. These movements set the backdrop for a session focused on upcoming US inflation data.

Overnight, Japan’s BoJ M2 Money Stock y/y came in at 2.2%, below the 2.4% consensus, and BoJ L Money Stock y/y was 4.4%, below the 5.1% consensus. Norway’s Consumer Confidence registered -16.6, significantly below the -5.7 consensus. The Korean Unemployment Rate was reported at 2.8%, higher than the 2.2% consensus. Retail positioning shows notable disagreement, with books disagreeing by 20 points on USDCHF and AUDUSD, and 22 points on GBPUSD. The crowd has also shifted on XAUUSD, moving from 51% short to 59% long in 24 hours.

Looking ahead, the primary focus for the session will be the series of US inflation reports. Traders will be watching the CPI y/y (USD), with a consensus of 3.4% against a previous 3.5%, and US Core CPI m/m (USD), with a consensus of 0.2% against a previous 0.0%, both due at 12:30 UTC.

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.