What is the forex market update London session today?

Heading into the session at 07:36 UTC, gold and the euro lead gains, up 0.90% and 0.53% on the day, with sterling at +0.43%. The dollar is trading mixed, softer against the euro, pound, Canadian dollar and yen but firmer against the Australian dollar, while Ethereum, Bitcoin, the Nasdaq 100 and WTI crude are all lower.

Which US data releases are due during the London session?

A full slate lands at 12:30 UTC, shortly after New York joins the session at 12:00 UTC: retail sales (estimate +0.3% versus a prior 1.2%), the retail sales control group, retail sales ex autos, producer prices on a monthly and annual basis, initial jobless claims (estimate 200 versus a prior 197), the NY Empire State index and the Philadelphia Fed survey. The Monthly Budget Statement follows later at 18:00 UTC.

How is gold performing ahead of US inflation data?

Gold is trading at 4141.9, up 0.90% on the day and sitting between the daily pivot at 4116.24 and R1 at 4159.17. The daily and four-hour trends both read down even as the metal holds above its pivot ahead of the US producer price index release at 12:30 UTC.

What impact do today's retail sales and PPI figures have on forex?

Retail sales (estimate +0.3% versus a prior 1.2%) and the producer price index readings, including a core year-over-year estimate of 4.4% against a prior 4.6%, are among the US releases due at 12:30 UTC. EUR/USD is trading above its pivot at 1.11597 and USD/CAD below its pivot at 1.42433, so both pairs have pivot-ladder levels close by, though the data itself cannot say how either will react.

Forex Market Update London Session: Gold, Euro Lead, Dollar Mixed

Session brief Neutral bias Oct 15, 2026, 07:40 UTC

Claire DuboisEuropean Markets Analyst · ForexR analyst

Gold and the euro lead London session gains while the dollar trades mixed against the majors, with a heavy US data slate at 12:30 UTC keeping EUR/USD, gold and USD/CAD levels in focus.

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Instrument	Last	Day change	Pivot	Daily trend
EUR/USD	1.12145	+0.53%	1.11597	Down
Gold (XAU/USD)	4,141.90	+0.90%	4,116.24	Down
GBP/USD	1.32496	+0.43%	1.32017	Down
Bitcoin (BTC/USD)	81,072.81	-2.78%	82,320.18	Mixed
USD/JPY	158.008	-0.18%	158.431	Mixed
AUD/USD	0.69414	-0.42%	0.69782	Down
USD/CAD	1.42068	-0.21%	1.42433	Up
Ethereum (ETH/USD)	2,367.24	-5.45%	2,449.01	Mixed
Nasdaq 100 (US100)	29,599.8	-1.06%	30,150.4	Mixed
WTI Crude Oil (XTI/USD)	92.809	-1.32%	94.027	Up
Data as of 2026-10-15 07:36 UTC.

Dollar Mixed as London Trade Gets Underway

At 07:36 UTC, with the London session running and New York still to join at 12:00 UTC, gold and the euro sit at the top of the board, up 0.90% and 0.53% on the day respectively, with sterling close behind at +0.43%. The move is not a clean dollar story: the greenback is softer against the euro, the pound, the Canadian dollar and the yen, but firmer against the Australian dollar, which is down 0.42%. That split picture is visible on the currency strength meter, where no single currency is leading every pair at once.

Away from the majors, risk sentiment looks heavier. Ethereum is down 5.45% and Bitcoin down 2.78%, the Nasdaq 100 is off 1.06% and WTI crude has slipped 1.32%. The daily trend reading is down for EUR/USD, GBP/USD, AUD/USD and gold, up for USD/CAD and WTI crude, and mixed for USD/JPY, Bitcoin, Ethereum and the Nasdaq 100, a mix that keeps today's overall lean neutral rather than pointing firmly either way.

Instrument	Last	Change %	Daily trend
EUR/USD	1.12145	+0.53%	Down
GBP/USD	1.32496	+0.43%	Down
USD/JPY	158.008	-0.18%	Mixed
USD/CAD	1.42068	-0.21%	Up
AUD/USD	0.69414	-0.42%	Down
Gold (XAU/USD)	4141.9	+0.90%	Down
WTI Crude Oil (XTI/USD)	92.809	-1.32%	Up
Bitcoin (BTC/USD)	81072.81	-2.78%	Mixed
Ethereum (ETH/USD)	2367.24	-5.45%	Mixed
Nasdaq 100 (US100)	29599.8	-1.06%	Mixed

Treasury yields at the close on October 14 add context rather than explanation: the two-year sat at 4.82%, up 3 basis points, and the ten-year at 5.19%, down 2 basis points, ahead of today's heavier US data load.

Three Setups in Focus

EUR/USD at 1.12145 is already above R1 at 1.12069, beyond the top of its daily pivot ladder, even though the daily trend reads down and the four-hour trend is mixed. Those levels are built the same way as the pivot point calculator would plot them: a slip back below the pivot at 1.11597 would pull price back inside the ladder and open the way toward S1 at 1.11085, while holding above R1 at 1.12069 keeps today's advance intact. The five-day change is a more modest +0.17%, and the 14-day RSI at 27.3 is on the low side of its range.

Gold at 4141.9 sits between the daily pivot at 4116.24 and R1 at 4159.17, up 0.90% on the day despite both the daily and four-hour trends pointing down. A move through R1 at 4159.17 would keep the current bid running; a drop back below the pivot at 4116.24 would shift focus toward S1 at 4062.20. The five-day change of +0.76% is roughly in line with today's move, and the 14-day RSI at 39 remains below the midpoint of its range.

USD/CAD at 1.42068 is holding between S1 at 1.41878 and the daily pivot at 1.42433, down 0.21% on the day even though the daily trend still reads up. Reclaiming the pivot at 1.42433 would put R1 at 1.4291 back in view, while a break below S1 at 1.41878 would extend the pullback. The four-hour trend is mixed, and the five-day change stands at -0.33%.

Newsflow and the Calendar Ahead

Coverage from FX Street and ExchangeRates this morning leans on a softer-dollar narrative, framing it as the backdrop for gains in the euro and in precious metals. Separate ExchangeRates pieces on sterling tie price swings to US inflation data, while FX Street's metals coverage links gold and silver moves to broader dollar and oil dynamics.

Today's calendar is heavy. The Bank of England's Breeden speaks at 08:45 UTC, ahead of euro area industrial production at 09:00 UTC and the German Bundesbank's monthly report at 10:00 UTC. The bulk of the risk lands at 12:30 UTC, shortly after New York joins the session at 12:00 UTC: retail sales (estimate +0.3% versus a prior 1.2%), the retail sales control group, retail sales ex autos (estimate +0.5% versus a prior 1.4%), producer prices on a monthly and annual basis (headline estimate +0.5% versus a prior 0.4%; core year-over-year estimate 4.4% versus a prior 4.6%), initial jobless claims (estimate 200 versus a prior 197), the NY Empire State index (estimate 10.3 versus a prior 7.6) and the Philadelphia Fed survey (estimate 28.4 versus a prior 37.8) are all due together. The Monthly Budget Statement follows at 18:00 UTC. A guide to using an economic calendar covers how to track a cluster like this as it lands.

Bottom Line

Gold and the euro are setting the pace into the London session, with sterling not far behind, while Ethereum, Bitcoin, the Nasdaq 100 and WTI crude sit on the other side of the ledger. The dollar's moves are not uniform across pairs, and with daily trend readings pointing one way and today's price action another on several of them, the broader lean stays neutral heading into the 12:30 UTC US data cluster.