# European Markets Steady Amid Global Bond Sell-Off and Rising Gold Prices
**Note**: This analysis is generated during European session, markets open. Event times in US Eastern Time.
## Major News
Global markets experienced notable shifts today amid a backdrop of geopolitical and economic developments. U.S. futures showed modest gains, with S&P 500 futures up 0.05%, Dow futures increasing by 0.04%, and Nasdaq futures rising 0.03%. In Europe, indices also reflected positive sentiment, with the Euro Stoxx 50 up 0.13%, DAX gaining 0.18%, CAC 40 rising 0.21%, and FTSE 100 increasing by 0.18%. The Nikkei in Japan posted a stronger performance, climbing 1.14%.
Investor sentiment is being influenced by a global bond sell-off, leading to a surge in gold prices, which are reaching new highs despite the typical inverse relationship with rising yields. Analysts from Goldman Sachs suggest that gold could approach $5,000 per ounce if the Federal Reserve’s independence is perceived to be compromised.
In corporate news, Nvidia-backed Cohesity is planning a 2026 IPO, aiming for a valuation near $17 billion. Additionally, the Nasdaq is implementing a hefty $25 million fee for Chinese companies seeking to list in the U.S., reflecting ongoing tensions between the two nations. Overall, the market sentiment appears cautiously optimistic, with investors navigating
## Performances
### US Futures
US futures indicate opening sign for cash market.
| Future | Price | Daily Change (%) |
|---|---|---|
| S&P 500 Futures | 6466.25 | 0.05 |
| Dow Futures | 45301.00 | 0.04 |
| Nasdaq Futures | 23486.00 | 0.03 |
### Major US Indices (Previous Close)
Previous close performance for US indices.
| Index | Price | Daily Change (%) |
|---|---|---|
| S&P 500 | 6447.81 | 0.03 |
| Dow Jones | 45263.64 | -0.10 |
| Nasdaq 100 | 23396.74 | -0.00 |
### European Indices Performance
| Index | Price | Daily Change (%) |
|---|---|---|
| Euro Stoxx 50 | 5334.03 | 0.13 |
| DAX | 23706.28 | 0.18 |
| CAC 40 | 7717.71 | 0.21 |
| FTSE 100 | 9194.50 | 0.18 |
### Nikkei Performance
| Index | Price | Daily Change (%) |
|---|---|---|
| Nikkei | 42573.31 | 1.14 |
### FX Performance
| Currency Pair | Price | Daily Change (%) |
|---|---|---|
| EUR/USD | 1.17 | -0.03 |
| USD/JPY | 148.33 | 0.19 |
| GBP/USD | 1.34 | -0.04 |
| USD/CHF | 0.80 | 0.11 |
| USD/CAD | 1.38 | 0.13 |
| AUD/USD | 0.65 | -0.24 |
| NZD/USD | 0.59 | -0.20 |
### Commodities Performance
| Commodity | Price | Daily Change (%) |
|---|---|---|
| Crude Oil | 63.09 | -1.12 |
| Gold | 3598.90 | -0.71 |
| Silver | 41.53 | 0.56 |
| Natural Gas | 3.09 | 0.52 |
### BTC and ETH Performance
| Crypto | Price | Daily Change (%) |
|---|---|---|
| Bitcoin | 110611.48 | -1.01 |
| Ethereum | 4382.79 | -1.56 |
## Economic Calendar of Today (Most Important Events)
The following table lists high-importance economic events for today, 2025-09-04, with times in US Eastern Time.
| Date | Time | Cur | Imp | Event | Actual | Forecast |
|---|---|---|---|---|---|---|
| 2025-09-04 | 02:00 | Medium | CPI (MoM) (Aug) | 0.8% | -0.4% | |
| 2025-09-04 | 02:00 | Medium | CPI (YoY) (Aug) | 1.1% | 1.1% | |
| 2025-09-04 | 02:30 | 🇨🇭 | Medium | CPI (MoM) (Aug) | -0.1% | 0.0% |
| 2025-09-04 | 04:30 | 🇬🇧 | Medium | S&P Global Construction PMI (Aug) | 45.2 | |
| 2025-09-04 | 08:15 | 🇺🇸 | High | ADP Nonfarm Employment Change (Aug) | 73K | |
| 2025-09-04 | 08:30 | 🇺🇸 | Medium | Continuing Jobless Claims | 1,960K | |
| 2025-09-04 | 08:30 | 🇺🇸 | Medium | Exports (Jul) | ||
| 2025-09-04 | 08:30 | 🇺🇸 | Medium | Imports (Jul) | ||
| 2025-09-04 | 08:30 | 🇺🇸 | High | Initial Jobless Claims | 230K | |
| 2025-09-04 | 08:30 | 🇺🇸 | Medium | Nonfarm Productivity (QoQ) (Q2) | 2.8% | |
| 2025-09-04 | 08:30 | 🇺🇸 | Medium | Trade Balance (Jul) | -77.70B | |
| 2025-09-04 | 08:30 | 🇺🇸 | Medium | Unit Labor Costs (QoQ) (Q2) | 1.2% | |
| 2025-09-04 | 08:30 | 🇨🇦 | Medium | Trade Balance (Jul) | -5.20B | |
| 2025-09-04 | 09:45 | 🇺🇸 | Medium | S&P Global Composite PMI (Aug) | 55.4 | |
| 2025-09-04 | 09:45 | 🇺🇸 | High | S&P Global Services PMI (Aug) | 55.4 | |
| 2025-09-04 | 10:00 | 🇺🇸 | Medium | ISM Non-Manufacturing Employment (Aug) | ||
| 2025-09-04 | 10:00 | 🇺🇸 | High | ISM Non-Manufacturing PMI (Aug) | 50.9 | |
| 2025-09-04 | 10:00 | 🇺🇸 | High | ISM Non-Manufacturing Prices (Aug) | ||
| 2025-09-04 | 12:00 | 🇺🇸 | High | Crude Oil Inventories | -2.000M | |
| 2025-09-04 | 12:00 | 🇺🇸 | Medium | Cushing Crude Oil Inventories | ||
| 2025-09-04 | 12:05 | 🇺🇸 | Medium | FOMC Member Williams Speaks | ||
| 2025-09-04 | 13:00 | 🇺🇸 | Medium | Atlanta Fed GDPNow (Q3) | 3.0% | |
| 2025-09-04 | 16:30 | 🇺🇸 | Medium | Fed’s Balance Sheet | ||
| 2025-09-04 | 19:30 | 🇯🇵 | Medium | Household Spending (MoM) (Jul) | 1.3% | |
| 2025-09-04 | 19:30 | 🇯🇵 | Medium | Household Spending (YoY) (Jul) | 2.2% |
**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 4, 2025, several significant economic events are poised to influence currency markets.
The Swedish Krona (SEK) experienced a surprising rise in the Consumer Price Index (CPI) for August, with a month-over-month increase of 0.8%, significantly above the forecast of -0.4%. This unexpected inflationary pressure may bolster the SEK against other currencies. However, the year-over-year CPI matched expectations at 1.1%.
In Switzerland, the CPI for August reported a slight decline of -0.1%, contrasting with a forecast of 0.0%, which may weaken the Swiss Franc (CHF) as it indicates potential deflationary pressures.
The U.S. dollar (USD) will be closely watched with the release of the ADP Nonfarm Employment Change, expected at 73K, and initial jobless claims forecasted at 230K. These labor market indicators are critical for assessing economic strength and could influence Federal Reserve policy.
Additionally, the ISM Non-Manufacturing PMI is anticipated to be at 50.9, indicating stable growth. The outcomes of these reports could lead to volatility in USD and affect broader market sentiment.
Finally, Japan’s household spending data is expected to show positive growth, potentially supporting the Japanese Yen (JPY). Overall, the day presents a mix of surprises and expectations that could shape currency movements significantly.
