London Open Briefing: Wednesday, September 2, 2026

London traders begin their session with a slight risk-off tone, as indicated by the Risk Meter at -0.08. This follows a period where the Japanese Yen emerged as the strongest currency, gaining +0.66% over 24 hours, while the New Zealand Dollar was the weakest, down -0.94%. Price action reflects this, with NZDUSD falling -0.96% and EURJPY, GBPJPY, and USDJPY all declining by -0.47%, -0.42%, and -0.30% respectively. The RBNZ Interest Rate Decision saw rates held at 2.75%, as expected, but the NZD’s decline suggests other market dynamics at play.

Early data releases show Spain’s Unemployment Change significantly higher than expected, coming in at 44.419K against a consensus of -9.221K. Norway’s Current Account, however, surprised positively at 279.012B compared to the 218.524B consensus. Australian economic figures were mixed, with Final Consumption Expenditure q/q at 0.5% and GDP Chain Price Index q/q at 4.5%, significantly above the -5% consensus. Gross Fixed Capital Formation q/q was -0.3%.

Looking ahead, the session features several high-impact events. Traders will monitor the ADP Nonfarm Employment Change for the US at 12:15 UTC, with a consensus of 14K. Later, the Bank of Canada is scheduled to release its Rate Statement and Interest Rate Decision at 13:45 UTC, with the consensus for rates at 2.25%. This will be followed by the BOC Press Conference at 14:30 UTC.

Today’s most significant item ahead is the BoC Interest Rate Decision and accompanying statements.

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.