London Open Briefing: Wednesday, October 14, 2026

The London session opens with a generally risk-on tone, extending moves seen in Asia. The JP225 closed up +0.20%, while European equity futures like DE40 are trading +0.35% higher and UK100 is up +0.24%. US equity futures, represented by US30, also show strength at +0.26%. The Risk Meter stands at +0.55, reflecting this sentiment. In currencies, the AUD is the strongest over 24 hours at +0.34%, while the USD is weaker by -0.30% and the JPY is the weakest at -0.35%. Gold, XAUUSD, is down -0.30%.

Recent data releases from Spain showed HICP y/y at an actual 5% against a consensus of 5%, and CPI y/y at an actual 4.9% against a consensus of 4.9%, both with no surprise. In India, WPI Fuel & Energy y/y came in significantly higher at an actual 25.85% against a consensus of 9.43%, with WPI Food y/y also surprising at an actual 8.14% versus a consensus of 5.04%. Ahead for the Eurozone, ECB President Lagarde Speaks at 08:30 UTC and the EU Economic Summit convenes at 10:15 UTC. Retail books show divergent views, with disagreements of 20 points on AUDUSD, 37 points on USDCHF, and 23 points on USDJPY.

All eyes will be on the high-impact US CPI data 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.