Huw JonesWeakening economies in Germany and France piled more pressure on markets on Tuesday as decades-high inflation and surging gas prices drag Europe towards recession, pushing the euro to a 20-year low against the dollar.
"The PMIs are going to feed into the pessimistic narrative," said Michael Hewson, chief markets analyst at CMC Markets.The Stoxx index of European company shares was flat as rising U. stock index futures helped to counter the gloomy economic news. The index has fallen for nearly a week, leaving it about 11 per cent off its record high of January 4th.
But markets now expect the Fed will remain hawkish when its chair Jerome Powell addresses the annual Jackson Hole meeting of global central bankers on Friday, ING bank said.
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