London Open Briefing: Wednesday, September 23, 2026
The London session opens with a slightly risk-off tone, as indicated by the Risk Meter at -0.03. The US Dollar has shown strength over the past 24 hours, gaining +0.33%, contributing to USDJPY rising +0.21%. Gold, XAUUSD, has declined -0.89%, while NZDUSD and AUDUSD are also weaker, down -0.44% and -0.36% respectively. This backdrop suggests potential continued demand for the US Dollar.
Earlier, Norway’s Unemployment Rate (NOK) was released at 4.5%, surprising against a 4.1% consensus. Singapore’s CPI y/y (SGD) matched expectations at 2.3%. Ahead, Eurozone S&P Global Services PMI, Composite PMI, and Manufacturing PMI are due at 08:00 UTC, with consensus figures of 51.1, 51.1, and 53 respectively. Shortly after, UK S&P Global/CIPS Manufacturing PMI, Services PMI, Flash Manufacturing PMI, and Flash Services PMI will be released at 08:30 UTC. Retail books show notable disagreement on GBPUSD, USDCAD, and USDCHF. The Reserve Bank of New Zealand also issued a changed statement.
Traders will be watching the EIA Crude Oil Stocks Change (USD, High) later today.
| At a glance | |
|---|---|
| Biggest moves since the previous session | XAUUSD -0.89%, NZDUSD -0.44%, AUDUSD -0.36% |
| Currency strength, 24h | USD strongest at +0.33%, NZD weakest at -0.39% |
| Risk meter | -0.03 (balanced) |
Scheduled this session (High and Medium impact)
| Time | Ccy | Event | Impact | Consensus |
|---|---|---|---|---|
| 08:00 UTC | EUR | S&P Global Services PMI | Medium | 51.1 |
| 08:00 UTC | EUR | S&P Global Composite PMI | Medium | 51.1 |
| 08:00 UTC | EUR | S&P Global Manufacturing PMI | Medium | 53 |
| 08:30 UTC | GBP | S&P Global/CIPS Manufacturing PMI | Medium | 52.1 |
| 08:30 UTC | GBP | S&P Global/CIPS Services PMI | Medium | 53.2 |
| 08:30 UTC | GBP | Flash Manufacturing PMI | Medium | 51.5 |
| 08:30 UTC | GBP | Flash Services PMI | Medium | 52.0 |
| 14:30 UTC | USD | EIA Crude Oil Stocks Change | High | 0.895M |
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.