Soaring gas costs, a recession looming over Europe, red-hot inflation and also the monetary unit back to close two-decade lows.
It feels like there is no dearth of unhealthy news within the region, simply prior to key flash getting managers index survey knowledge that will show another month of business contraction.
The latest market issues over runaway gas costs aren't entirely new however with Europe facing a lot of cuts in Russian oil and gas exports, the pain will solely decline.
Societe Generale's strategian notes that spot costs ar up seventieth in an exceedingly month and 6 times as high as they were a year agone.
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Though this does not translate directly into a giant rise within the value of foreign fossil fuel, the strategian says the impact on Europe's terms of trade are devastating if costs lodge in current levels for long enough.
The cocktail of negative news has already force down the monetary unit to its lowest in twenty years, whereas the pound was hobbled close to 2-1/2 year lows.
Meanwhile, even as Scandinavian nation readies for elections next month, knowledge showed home costs declined for a fourth straight month in Gregorian calendar month - a lot of pressure for the minority Social Democrat government, that faces a good election in September.
Asian stocks fell to a one-month low once Wall Street stumbled as accord grew that the Federal Reserve's gathering later in the week in Jackson Hole may restate the necessity for sharp rate hikes to kill inflation.
Economic data: August flash PMIs in monetary unit zone, UK, U.S,; monetary unit zone flash August client confidence and Danmark client confidence.
ECB member Panetta speaks at Bocconi University
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