contraction in Euro-zone economy for a second A month in a row, the single currency was fixed to 20-year a little against The dollar on Tuesday, with Gas prices rise in addition to misery Europe dragged into recession.
Fixed US stock index futures also Investors gave little appetite for full of dangers assetseven though the oil jumped over 1% with shrinking supply back In focus as Saudi Arabia puts forward the idea of OPEC+ production cuts.
While the S&P Flash Composite Purchasing Managers’ Index (PMI) of business Activity in Europe was not like this bad As he feared, analysts said more gloom news for The economy probably how Gas prices rose to record Upcoming heights of winter.
MSCI global stock index was down 0.3%.
STOXX . indicator of European company shares It fell 0.4%, after falling for Almost a week. She is now about 11%. off that it record high of January 4th war in Ukraine paid up inflation and triggered Rises in Center bank Interest rates to cast a shadow over growth.
Standard gas prices in The EU rose 13% overnight to a record Peak, after doubling in just month to be 14 times higher from average of The past decade.
Europe was ready for new disorder in Power supplies from Russia.
I can’t expect the Ukraine war to end anytime soon This will be the motivator for a market gathering. This will keep pressing on energy prices and for the only euro way It’s down,” said Michael Hewson, head of markets at CMC Markets.
Inventories are starting to recover on Betting That the US Federal Reserve (Fed) Will ‘Transform’ next year away from him rate-rising path.
But despite the signs of US inflation is peaking, and markets are now expecting the Federal Reserve to do so remain Hard-line when Chairman Jerome Powell addresses Jackson Hole’s annual meeting of global Central bankers on Friday.
in last yearCentral Bank Governors Meeting wrongThey presented investors with the expectation that inflation would be a temporary picture, but price heights were higherlast longer and more Broadly speaking, Monica Devind said, head of Amundi Institute.
Markets betting on The Federal Reserve raised interest rates by 75 basis points next The month in which the European Central Bank and the Bank of England also Its benchmark rates are expected to increase.
The defense said that while the company earnings Have shown some flexibility, margins will come under pressure later this year.
euro, trading Priced at $0.9920 for dollaris expected to fall further to $0.9600 by December due to the outlook for poorer Europe, Defend said.
The United States and the Euro area be on Two different paths,” she said.
The movement of the pound sterling off 2-1/2 year lows against The dollar after PMI for Britain showed business slowed activity in Line with expectations.
Futures for the S&P 500 and Nasdaq were flat after Monday’s sharp sell-off on Wall Street. PMIs for United States due shortly after stock market Opens.
China’s concern
Asia shares they were down for Seventh in a row session on Tuesday after renewed spike in European energy prices raised concerns of Recession and paid bond yields higher While flipping the euro to -20year lowest levels.
worry over China economy Continue filtering as pieces in Lending rates and talk of Fresh round of official loans for property developers Underlined pressure in sector.
“growth in It seems unlikely that the service sector will accelerate by as much as China zeroCOVID Policies remain in place; The export boom linked to the pandemic is coming to an end; And the power deficiency due to dehydration in slash of country look set to disrupt the industry in The near term said Oliver Allen, a market Cheap at Capital Economics.
Chinese blue chips were off 0.5%, while the yuan fell to nearly two-year a little.
The Nikkei lost 1.2% after a PMI survey showed factory activity in Japan slowed to its lowest level in 19 months in August.
ten-year yield was last trading by 3.01%, up Nearly 50 bases points from the lowest levels of early August.
Boarding of The dollar And the returns were a burden for Gold, which was hovering at $1,736 an ounce after hitting a three-week low overnight.
Oil prices rose with Saudi Arabia warning that the OPEC + producer alliance may cut production.
was Brent up 1.5% to $97.92, while US crude rose 1.75% to $91.96 a barrel.
