New York Open Briefing: Friday, August 7, 2026
The New York session opens with a generally positive tone across global markets. Asian and European equities saw gains, with the JP225 up 1.21%, the UK100 rising 0.84%, and the DE40 advancing 0.78%. US indices also moved higher, as the USTEC gained 0.49% and the US30 increased 0.31%. Gold, XAUUSD, also saw a notable rise of 1.32%. This broadly aligns with the risk meter indicating a slightly risk-on sentiment at +0.02. The US Dollar and Australian Dollar were the strongest currencies over the past 24 hours, gaining 0.14% and 0.10% respectively.
Earlier releases showed Mexican CPI data significantly below consensus. Core CPI m/m came in at 0.23% against a 0.27% consensus, while CPI y/y was 3.12% compared to a 4.02% consensus. CPI m/m also missed, reporting 0.03% versus 0.19% expected. Indian data was mixed, with Foreign Exchange Reserves at 692.866B, exceeding the 686.281B consensus, but Bank Loan Growth y/y came in at 17.7%, below the 18.2% consensus.
Looking ahead, the session features several medium impact data points. Canada’s Ivey PMI is due at 14:00 UTC, with a consensus of 55.4. Later, at 17:00 UTC, the Baker Hughes US Oil Rig Count and Total Rig Count will be released. The Fed Consumer Credit m/m for the US is scheduled for 19:00 UTC, with a consensus of 11.44B. Positioning data, including CFTC Non-Commercial Net Positions for BRL, AUD, JPY, and GBP, will also be released at 19:30 UTC. Retail books show disagreement on EURJPY and GBPUSD, while the crowd on XAUUSD has shifted 8pt toward long. NZDUSD saw a crowd flip, moving from 61% long to 51% short in 24 hours.
Traders will likely focus on the upcoming Fed Consumer Credit m/m release for the US.
| At a glance | |
|---|---|
| Biggest moves since the previous session | XAUUSD +1.32%, JP225 +1.21%, UK100 +0.84% |
| Currency strength, 24h | USD strongest at +0.14%, JPY weakest at -0.20% |
| Risk meter | +0.02 (balanced) |
Scheduled this session (High and Medium impact)
| Time | Ccy | Event | Impact | Consensus |
|---|---|---|---|---|
| 14:00 UTC | CAD | Ivey PMI | Medium | 55.4 |
| 17:00 UTC | USD | Baker Hughes US Oil Rig Count | Medium | – |
| 17:00 UTC | USD | Baker Hughes US Total Rig Count | Medium | – |
| 19:00 UTC | USD | Fed Consumer Credit m/m | Medium | 11.44B |
| 19:30 UTC | BRL | CFTC BRL Non-Commercial Net Positions | Medium | – |
| 19:30 UTC | AUD | CFTC AUD Non-Commercial Net Positions | Medium | – |
| 19:30 UTC | JPY | CFTC JPY Non-Commercial Net Positions | Medium | – |
| 19:30 UTC | GBP | CFTC GBP Non-Commercial Net Positions | Medium | – |
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.