**Note**: This analysis is generated during European session, markets open. Event times in US Eastern Time.
## Major News
Global markets displayed mixed sentiment today amid rising bond yields in Japan and geopolitical tensions. Japan’s 30-year bond yield surged to a multi-decade high of 3.286%, reflecting increased borrowing costs and investor caution. This trend contributed to a drop in the Nikkei, which fell by 0.48%.
European markets opened positively, with the Euro Stoxx 50 gaining 0.32%, the DAX up 0.04%, the CAC 40 increasing by 0.15%, and the FTSE 100 rising by 0.19%. Traders reacted to stabilizing bond yields, reversing the previous day’s negative sentiment.
In the U.S., stock futures edged higher, with S&P 500 futures up 0.07%, Dow futures increasing by 0.04%, and Nasdaq futures rising by 0.10%. This follows a day of profit-taking, where major indices closed in the red after Google avoided severe antitrust penalties.
Geopolitical tensions escalated as Chinese President Xi Jinping warned of “peace or war,” coinciding with a military parade showcasing China’s capabilities. Additionally, foreign investors withdrew record amounts from Vietnam’s stock market due to currency concerns, highlighting broader market apprehensions. Overall, market sentiment remains
## Performances
### US Futures
US futures indicate opening sign for cash market.
| Future | Price | Daily Change (%) |
|---|---|---|
| S&P 500 Futures | 6435.00 | 0.07 |
| Dow Futures | 45231.00 | 0.04 |
| Nasdaq Futures | 23350.25 | 0.10 |
### Major US Indices (Previous Close)
Previous close performance for US indices.
| Index | Price | Daily Change (%) |
|---|---|---|
| S&P 500 | 6414.95 | 0.21 |
| Dow Jones | 45288.18 | 0.00 |
| Nasdaq 100 | 23238.71 | 0.95 |
### European Indices Performance
| Index | Price | Daily Change (%) |
|---|---|---|
| Euro Stoxx 50 | 5328.75 | 0.32 |
| DAX | 23615.64 | 0.04 |
| CAC 40 | 7711.02 | 0.15 |
| FTSE 100 | 9133.77 | 0.19 |
### Nikkei Performance
| Index | Price | Daily Change (%) |
|---|---|---|
| Nikkei | 41884.81 | -0.48 |
### FX Performance
| Currency Pair | Price | Daily Change (%) |
|---|---|---|
| EUR/USD | 1.16 | -0.14 |
| USD/JPY | 148.93 | 0.29 |
| GBP/USD | 1.33 | -0.33 |
| USD/CHF | 0.81 | 0.16 |
| USD/CAD | 1.38 | 0.12 |
| AUD/USD | 0.65 | -0.17 |
| NZD/USD | 0.58 | -0.31 |
### Commodities Performance
| Commodity | Price | Daily Change (%) |
|---|---|---|
| Crude Oil | 65.32 | -0.11 |
| Gold | 3600.20 | 0.10 |
| Silver | 41.65 | 0.18 |
| Natural Gas | 3.00 | 0.33 |
### BTC and ETH Performance
| Crypto | Price | Daily Change (%) |
|---|---|---|
| Bitcoin | 110628.74 | -0.53 |
| Ethereum | 4302.76 | -0.54 |
## Economic Calendar of Today (Most Important Events)
The following table lists high-importance economic events for today, 2025-09-03, with times in US Eastern Time.
| Date | Time | Cur | Imp | Event | Actual | Forecast |
|---|---|---|---|---|---|---|
| 2025-09-03 | 02:00 | 🇷🇺 | Medium | S&P Global Services PMI (Aug) | 50.0 | |
| 2025-09-03 | 03:15 | 🇪🇺 | Medium | HCOB Spain Services PMI (Aug) | 53.2 | 54.4 |
| 2025-09-03 | 03:30 | 🇬🇧 | Medium | BoE MPC Member Mann Speaks | ||
| 2025-09-03 | 03:30 | 🇪🇺 | Medium | ECB President Lagarde Speaks | ||
| 2025-09-03 | 03:45 | 🇪🇺 | Medium | HCOB Italy Services PMI (Aug) | 52.1 | |
| 2025-09-03 | 03:50 | 🇪🇺 | Medium | HCOB France Services PMI (Aug) | 49.7 | |
| 2025-09-03 | 03:55 | 🇪🇺 | Medium | HCOB Germany Services PMI (Aug) | 50.1 | |
| 2025-09-03 | 04:00 | 🇪🇺 | Medium | HCOB Eurozone Composite PMI (Aug) | 51.1 | |
| 2025-09-03 | 04:00 | 🇪🇺 | Medium | HCOB Eurozone Services PMI (Aug) | 50.7 | |
| 2025-09-03 | 04:30 | 🇬🇧 | Medium | S&P Global Composite PMI (Aug) | 53.0 | |
| 2025-09-03 | 04:30 | 🇬🇧 | Medium | S&P Global Services PMI (Aug) | 53.6 | |
| 2025-09-03 | 05:30 | 🇪🇺 | Medium | German 10-Year Bund Auction | ||
| 2025-09-03 | 05:30 | 🇿🇦 | Medium | GDP Annualized (QoQ) (Q2) | ||
| 2025-09-03 | 08:00 | 🇧🇷 | Medium | Industrial Production (YoY) (Jul) | 0.3% | |
| 2025-09-03 | 08:30 | 🇨🇦 | Medium | Labor Productivity (QoQ) (Q2) | -0.2% | |
| 2025-09-03 | 09:15 | 🇬🇧 | Medium | BoE MPC Treasury Committee Hearings | ||
| 2025-09-03 | 10:00 | 🇺🇸 | Medium | Factory Orders (MoM) (Jul) | -1.3% | |
| 2025-09-03 | 10:00 | 🇺🇸 | High | JOLTS Job Openings (Jul) | 7.380M | |
| 2025-09-03 | 13:30 | 🇺🇸 | Medium | FOMC Member Kashkari Speaks | ||
| 2025-09-03 | 14:00 | 🇺🇸 | Medium | Beige Book | ||
| 2025-09-03 | 16:30 | 🇺🇸 | Medium | API Weekly Crude Oil Stock | ||
| 2025-09-03 | 21:30 | 🇦🇺 | Medium | Trade Balance | 4.880B |
**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).
On September 3, 2025, several key economic indicators are expected to influence currency markets significantly.
The S&P Global Services PMI for Russia reported an actual figure of 50.0, meeting expectations, indicating stable service sector activity, yet lacking growth momentum. In the Eurozone, the HCOB Spain Services PMI came in at 53.2, below the forecast of 54.4, suggesting a potential slowdown in Spain’s service sector, which may weigh on the euro. The HCOB Germany Services PMI is anticipated at 50.1, reflecting stagnation, while the Eurozone Services PMI is expected at 50.7, indicating minimal growth.
In the UK, the S&P Global Services PMI is forecasted at 53.6, suggesting resilience in the service sector, which may support the GBP. However, the BoE MPC Member Mann and ECB President Lagarde’s speeches could provide insights into future monetary policy directions, potentially impacting GBP and EUR volatility.
In the U.S., Factory Orders are expected to decline by 1.3%, and JOLTS Job Openings are forecasted at 7.380 million, which may affect the USD’s strength. The Beige Book’s release later in the day could further influence market sentiment. Overall, these reports are crucial for assessing economic health and currency valuations.
## Remaining Economic Calendar Comment for the Week (Important Events Only)
This week, several significant economic events impacted currency markets. The UK’s Nationwide HPI showed a surprising contraction of -0.1% in August, below the forecast of 0.1%, signaling potential weakness in the housing market, which could weigh on the GBP. Additionally, the S&P Global Manufacturing PMI for the UK came in at 47.0, slightly below expectations, indicating a continued contraction in the manufacturing sector.
In the Eurozone, the HCOB Eurozone Manufacturing PMI exceeded expectations at 50.7, suggesting moderate growth, while the German PMI was slightly below forecast at 49.8. However, the Core CPI showed a surprising increase to 2.3%, hinting at persistent inflationary pressures, which may influence future ECB policy.
In Australia, GDP growth outperformed expectations at 0.6% QoQ, strengthening the AUD. Conversely, the Japanese 10-Year JGB auction yielded 1.612%, reflecting stable demand for government bonds.
The USD faced mixed signals with the ISM Manufacturing PMI at 48.7, below expectations, and a notable decline in factory orders at -1.3%, leading to potential weakness in the currency. Overall, these mixed results may lead to volatility in the currency markets as investors reassess growth and inflation expectations.
