# European Market Update: GSK Leadership Shakeup Amid Mixed Indices and a Gold Rally
**Note**: This analysis is generated during European session, markets open. Event times in US Eastern Time.
## Major News
Global market sentiment today reflects a mix of caution and opportunity, influenced by significant corporate leadership changes and economic data expectations. GSK Plc’s CEO Emma Walmsley is stepping down amid ongoing concerns about the company’s drug pipeline, which may impact investor confidence in the pharmaceutical sector.
In the credit market, rising concerns about potential excesses are causing unease on Wall Street, particularly following recent bankruptcies. This backdrop has led to a cautious tone across major indices. US futures show slight positive movement, with S&P 500 futures up 0.03%, Dow futures rising 0.002%, and Nasdaq futures increasing 0.06%.
In Europe, the Euro Stoxx 50 gained 0.08%, while the CAC 40 dipped 0.16%, and the DAX remained flat. The FTSE 100, however, rose 0.24%. The Nikkei in Japan fell 0.40%, reflecting regional market pressures.
Gold prices have resumed their upward trajectory, nearing record highs around $3,800, driven by strong demand as investors await key US economic data that could influence future price movements. The GBP/USD pair fell to seven-week lows, while the EUR/USD retreated from its recent peak, indicating a challenging
## Performances
### US Futures
US futures indicate opening sign for cash market.
| Future | Price | Daily Change (%) |
|---|---|---|
| S&P 500 Futures | 6718.00 | 0.03 |
| Dow Futures | 46672.00 | 0.00 |
| Nasdaq Futures | 24828.75 | 0.06 |
### Major US Indices (Previous Close)
Previous close performance for US indices.
| Index | Price | Daily Change (%) |
|---|---|---|
| S&P 500 | 6643.54 | 0.43 |
| Dow Jones | 46247.89 | 0.32 |
| Nasdaq 100 | 24503.74 | 0.41 |
### European Indices Performance
| Index | Price | Daily Change (%) |
|---|---|---|
| Euro Stoxx 50 | 5519.11 | 0.08 |
| DAX | 23830.62 | 0.00 |
| CAC 40 | 7886.07 | -0.16 |
| FTSE 100 | 9307.54 | 0.24 |
### Nikkei Performance
| Index | Price | Daily Change (%) |
|---|---|---|
| Nikkei | 44935.05 | -0.40 |
### FX Performance
| Currency Pair | Price | Daily Change (%) |
|---|---|---|
| EUR/USD | 1.17 | 0.22 |
| USD/JPY | 148.68 | -0.52 |
| GBP/USD | 1.34 | 0.31 |
| USD/CHF | 0.80 | -0.25 |
| USD/CAD | 1.39 | -0.16 |
| AUD/USD | 0.66 | 0.29 |
| NZD/USD | 0.58 | 0.28 |
### Commodities Performance
| Commodity | Price | Daily Change (%) |
|---|---|---|
| Crude Oil | 65.13 | -0.17 |
| Gold | 3844.30 | 0.53 |
| Silver | 47.05 | -0.07 |
| Natural Gas | 3.19 | 1.30 |
### BTC and ETH Performance
| Crypto | Price | Daily Change (%) |
|---|---|---|
| Bitcoin | 111697.93 | -0.45 |
| Ethereum | 4099.69 | -1.08 |
## Economic Calendar of Today (Most Important Events)
The following table lists high-importance economic events for today, 2025-09-29, with times in US Eastern Time.
| Date | Time | Cur | Imp | Event | Actual | Forecast |
|---|---|---|---|---|---|---|
| 2025-09-29 | 01:30 | 🇯🇵 | Medium | BoJ Board Member Noguchi Speaks | ||
| 2025-09-29 | 03:00 | 🇪🇺 | Medium | Spanish CPI (YoY) (Sep) | 2.9% | 3.1% |
| 2025-09-29 | 03:00 | 🇪🇺 | Medium | Spanish HICP (YoY) (Sep) | 3.0% | 3.0% |
| 2025-09-29 | 05:00 | 🇪🇺 | Medium | German Buba President Nagel Speaks | ||
| 2025-09-29 | 05:00 | 🇪🇺 | Medium | ECB’s Schnabel Speaks | ||
| 2025-09-29 | 07:30 | 🇺🇸 | Medium | Fed Waller Speaks | ||
| 2025-09-29 | 08:00 | 🇬🇧 | Medium | MPC Member Ramsden Speaks | ||
| 2025-09-29 | 08:00 | 🇪🇺 | Medium | ECB’s Lane Speaks | ||
| 2025-09-29 | 10:00 | 🇺🇸 | Medium | Pending Home Sales (MoM) (Aug) | 0.2% | |
| 2025-09-29 | 13:15 | 🇺🇸 | High | U.S. President Trump Speaks | ||
| 2025-09-29 | 13:30 | 🇺🇸 | Medium | FOMC Member Williams Speaks | ||
| 2025-09-29 | 18:00 | 🇺🇸 | Medium | FOMC Member Bostic Speaks | ||
| 2025-09-29 | 19:50 | 🇯🇵 | Medium | Industrial Production (MoM) (Aug) | -0.7% | |
| 2025-09-29 | 21:30 | 🇦🇺 | Medium | Building Approvals (MoM) (Aug) | 2.5% | |
| 2025-09-29 | 21:30 | 🇨🇳 | Medium | Chinese Composite PMI (Sep) | ||
| 2025-09-29 | 21:30 | 🇨🇳 | High | Manufacturing PMI (Sep) | 49.6 | |
| 2025-09-29 | 21:30 | 🇨🇳 | Medium | Non-Manufacturing PMI (Sep) | 50.3 | |
| 2025-09-29 | 21:45 | 🇨🇳 | Medium | Caixin Manufacturing PMI (MoM) (Sep) | 50.2 | |
| 2025-09-29 | 21:45 | 🇨🇳 | Medium | Caixin Services PMI (Sep) | 52.3 |
**Notes**:
– **Cur**: Currency associated with the event (with flag emoji).
– **Imp**: Importance (High, Medium, Low, None).
– **Actual**: Reported value (if available).
– **Forecast**: Expected value (if available).
Today, several key economic events are set to influence global markets, particularly in the currency space.
At 03:00 ET, Spanish CPI data will be released, with expectations at 3.1% YoY, but a lower actual figure of 2.9% may signal easing inflationary pressures, potentially impacting the EUR negatively. Concurrently, the Spanish HICP is expected to align with forecasts at 3.0%, which may provide some stabilization for the euro.
The speeches from various central bank officials, including ECB’s Schnabel and Lane at 05:00 ET and 08:00 ET respectively, are also crucial. Their comments could shape market expectations surrounding future monetary policy, particularly for the eurozone.
In the U.S., pending home sales data at 10:00 ET is anticipated to show a modest increase of 0.2%, which could bolster the USD if actual figures meet or exceed expectations. Additionally, speeches from FOMC members Williams and Bostic later in the day may provide further insights into the Fed’s stance on interest rates and economic outlook.
Lastly, the release of China’s PMI data at 21:30 ET will be closely watched, particularly the Manufacturing PMI, expected at 49.6, as this could influence the CNY and global market sentiment towards Chinese economic health.
## Remaining Economic Calendar Comment for the Week (Important Events Only)
This week, several key economic events are set to impact currency markets, particularly the Euro (EUR), Japanese Yen (JPY), and US Dollar (USD).
On September 29, the Spanish Consumer Price Index (CPI) is anticipated to show a slight decrease, with a forecast of 3.1% but an actual reading of 2.9%. This miss could exert downward pressure on the EUR, reflecting concerns over inflationary trends in the Eurozone.
In Germany, the unemployment rate and retail sales data will be closely watched, with forecasts of 6.3% and 0.5% respectively. Any deviations could influence the ECB’s monetary policy outlook, impacting the EUR further.
The US will have multiple releases, including the Chicago PMI and consumer confidence, with expectations of 43.2 and 95.3, respectively. Weak performance here could bolster the USD as markets recalibrate their interest rate expectations.
In Japan, the Tankan survey results will be crucial, particularly the outlook indices, which could influence the JPY’s trajectory against major currencies. Overall, traders should prepare for volatility as these data points are released, shaping expectations around central bank policies and economic health.
