Economic calendar: Gas supply issues weight on European assets

• European markets set to open lower

• Russia signals complete stop to Nord Stream gas flows

• Fed Chair Powell to speak at Jackson Hole symposium on Friday

• Flash PMIs from Europe and the United States on Tuesday

Futures markets point to a lower opening of the first European cash session of a new week. DAX futures currently trade almost 100 points below Friday's cash close. Energy commodities and precious metals also trade mostly lower. European gas prices jumped 10% after Russia said that it will halt the only remaining Nord Stream gas turbine for 3-day maintenance at the end of the month.

Economic calendar for the day ahead is empty but some interesting events are scheduled for the later part of the week. Those include flash PMIs for August from Europe and the United States on Tuesday or ECB minutes on Thursday. On top of that, the Jackson Hole symposium is held this week and Fed Chair Powell is expected to deliver a speech on Friday.

9:00 am BST - Poland, retail sales for July. Expected: 18.3% YoY. Previous: 19.9% YoY

Key events in the later part of the week

• Tuesday - Flash PMIs for August from Germany, France, United Kingdom and the United States

• Wednesday - DOE report on oil inventories

• Thursday - Q2 GDP revisions from Germany and US, ECB minutes, German Ifo index for August

• Friday - US PCE inflation for July, Fed Chair Powell speaks at Jackson Hole symposium