A round of purchasing managers index (PMI) data from across the globe continues with Europe on Monday, following Chinese PMI data over the weekend that pointed to mixed levels of services and manufacturing activity last month.
Markets have been feeling the pain after stocks, bonds and non-dollar currencies around the world mostly fell in the previous month, as investors adjusted to the idea that U.S. interest rates will stay elevated for longer.
Meanwhile, the euro zone has been grappling with recession jitters amid a slew of other indicators, putting a damper on last week's good news that inflation in the area fell to its lowest in two years.
Monday's final manufacturing PMI data from the EU will be closely watched after the preliminary report last month painted a mixed picture of the region's economic health; the index showed a rise in September from August's 33-month low, yet still lingered below the mark separating expansion from contraction.
Meanwhile, oil prices are up again on Monday, reversing some of Friday's losses.
Persons:
Brigid Riley, Luis de Guindos, Michael Barr, John Williams, Patrick Harker, Loretta Mester, Muralikumar
Organizations:
PMI, August's, Federal, Reuters, ECB, NY, Philly Fed, Cleveland Fed, Thomson
Locations:
Europe, Germany, France, Italy, Spain, Switzerland, Sweden, Cleveland