Market Highlight 24.06.2026

According to PMI surveys released on Tuesday, many businesses in the U.S, Europe, and parts of Asia said the increase in costs caused by the Middle East conflict eased in June following the temporary peace agreement, while some firms also reported a recovery in activity. According to S&P Global, the U.S composite purchasing managers’ index (PMI), which measures activity in the services and manufacturing sectors, rose to 52,2 from 51,5 in May. U.S services activity also expanded at the fastest pace since the conflict began, although it remained at a low level. By contrast, in several other major economies, services activity was hit particularly hard. Germany recorded its sharpest decline in 43 months in June, while the UK saw its steepest fall in 41 months. Europe’s PMI remained below the 50-point threshold, indicating that the region’s economy is at risk of contracting for a second consecutive quarter, which would mark a technical recession.

Energy costs surged when the conflict broke out in late February, but oil and natural gas prices have fallen back since the U.S and Iran announced a temporary peace agreement in mid-June. It remains unclear when energy supply through the Strait of Hormuz will return to pre-war levels. Central Banks have reacted cautiously to the prospect of a full reopening of this transport chokepoint. The decline in energy prices since the peace agreement was announced has helped limit the impact of the conflict on global economic growth this year.

The USD Index rose sharply by nearly 0,4% yesterday to 101,4, its highest level in one year, ahead of the release of key U.S inflation data. Domestically, interbank USD/VND traded steadily around 26.325.

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