Loading…
European stock markets fell on recession fears as the euro slumped to a two-decade low and the pound dropped to its lowest since the pandemic began. Rising natural gas prices intensified strain on the European economy.
Surging gas costs and currency weakness in Europe point to reduced economic activity and weaker regional demand for animal feed, while a softer pound and euro affect import costs for UK and euro zone buyers.
theguardian.comGraeme WeardenJul 5, 2022After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
Not enough comparable past events yet for a historical read.
After 155 past bullish macro events, Natural Gas moved a median +0.1% over 5 sessions (51% higher; middle half -4.0% to +7.1%), and +2.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
European equities fell on recession fears alongside the euro's slump, and rising gas prices strained the economy, which is consistent with sentiment-driven euro selling.
