Eurozone PMI falls to 48.9, recession fears rise as euro drops below $1.11

From Investing.com: 2024-09-23 06:14:00

Eurozone business activity unexpectedly contracted in September with the PMI falling to 48.9, sparking recession fears. The ECB’s cautious stance versus the Fed’s bold move led to the euro tumbling below $1.11.
Fed Governor Waller’s comments hint at a 25-bps rate cut, easing recession fears. Chair Powell’s speech and PCE inflation data are awaited.
US stocks may face jitters as Fed speakers talk, flash PMIs are due and earnings season looms. Chinese stimulus hopes lift market sentiment.
Gold hits record highs above $2,600/oz but retreats on stronger dollar.



Read more at Investing.com: Euro Sinks on Poor PMIs, Dollar Firms Ahead of Fedspeak