{"id":1955027,"date":"2023-06-23T07:57:02","date_gmt":"2023-06-23T11:57:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/marketmind-business-brakes-in-june-swoon-dollar-jumps\/"},"modified":"2023-06-23T07:59:32","modified_gmt":"2023-06-23T11:59:32","slug":"marketmind-business-brakes-in-june-swoon-dollar-jumps","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/marketmind-business-brakes-in-june-swoon-dollar-jumps\/","title":{"rendered":"Marketmind: June sees business slowdown, dollar surges."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmarketmind-business-brakes-in-june-swoon-dollar-jumps%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1955027&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>A Look Ahead in U.S. and Global Markets<\/h2>\n<p>Just as world stock prices raced ahead this month, broader business activity appeared to be stalling again.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Surprisingly soft readings from flash business surveys for June show that in the euro zone at least overall factory and service sector growth almost ground to halt during the month, with another big contraction in manufacturing. <\/p>\n<p>Equivalent Japanese and British surveys also showed sub-forecast growth and markets nervously await the U.S. version later on Friday. The dollar was the big market mover \u2013 surging into the weekend against Asia and European currencies.<\/p>\n<p>With central bankers around the world this week still focused on squeezing the last vestiges of inflation from the system, questions will inevitably be raised about the remarkable resilience of economies to date in the face of tighter credit.<\/p>\n<p>While Federal Reserve boss Jerome Powell slightly softened his tone at the second day of his semi-annual congressional hearings on Thursday \u2013 talking of a \u201ccareful pace\u201d in any further hikes \u2013 he continued to point to two more tightening notches this year even though markets still only see one.<\/p>\n<p>But the hawkishness was more pronounced in Europe where inflation looks slower to retreat. The Bank of England and Norway\u2019s central bank both <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/marketmind-business-brakes-in-june-swoon-dollar-jumps\/\" title=\"Marketmind: June sees business slowdown, dollar surges.\">executed stiff half-point rate rises<\/a> on Thursday, with the Swiss National Bank hiking rates too.<\/p>\n<p>For stock and commodity markets, the latest brush strokes to the combined picture provided another reason to reverse some of June\u2019s ebullience, with European stocks on course for their worst week in three months.<\/p>\n<p>Even though Shanghai was closed for a holiday, other Asia bourses were also lower by more than 1% on Friday. <\/p>\n<p>Brent crude oil prices, which are still falling at a rate of more than 30% year-on-year, dropped to a 10-day low.<\/p>\n<p>After a late rally by Wall Street\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/senate-approves-temporary-lift-of-debt-ceiling-averts-default\/\" title=\"Senate Approves Temporary Lift of Debt Ceiling, Averts Default\">main stock indexes<\/a> on Thursday after Powell\u2019s comments, U.S. stock futures were back in the red early today.<\/p>\n<p>Compared with Europe, the picture appears more benign stateside \u2013 even if still complicated. Inflation is falling faster, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/under-trump-americans-have-seen-their-best-wage-growth-in-40-years\/\" title=\"Under Trump, Americans Have Seen Their Best Wage Growth In 40 Years\">real wage growth<\/a> is back positive, the jobs market is loosening slightly and housing is rebounding somewhat.<\/p>\n<p>So even as stock prices have come off the year\u2019s highs, the VIX implied volatility gauge continues to fall away \u2013 closing below 13 on Thursday for the first time since January 2020.<\/p>\n<p>Two-year Treasury yields did pop higher to 4.80% on Thursday for the first time in a week, but have slipped back a bit since.<\/p>\n<p>And the Treasury yield curve inversion between 2- and 10-years, often seen as a harbinger of slowdown and recession, deepened below 100 basis points for the first time since the banking stress of early March.<\/p>\n<p>The dollar was the big mover however \u2013 hitting its highest for the year against Japan\u2019s yen and China\u2019s yuan and surging also against the euro, sterling and Swiss franc.<\/p>\n<p>Events to watch for later on Friday:<\/p>\n<ul>\n<li>Flash June business surveys from the United States and around the world<\/li>\n<li>Atlanta Federal Reserve President Raphael Bostic, St Louis Fed President James Bullard and Cleveland Fed chief Loretta Mester all speak<\/li>\n<li>U.S. Corporate earnings: Carmax<\/li>\n<\/ul>\n<p> (By Mike Dolan, editing by Jane Merriman mike.dolan@thomsonreuters.com. Twitter: @reutersMikeD)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/marketmind-business-brakes-in\/attachment\/illustration-shows-u-s-dollar-banknotes-2\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Secretary of State Antony Blinken&#8217;s Trip to China<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Presidential Hopeful Ron DeSantis Takes Aim at California<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with James O\u2019Keefe<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>with Rep. Troy Nehls<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Arriana McLymore and Katherine Masters NEW YORK (Reuters) \u2013 Amazon.com Inc isn\u2019t the only U.S. retailer accused of using deceptive tactics\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By A. Ananthalakshmi KUALA LUMPUR (Reuters) -Malaysia said on Friday it will take legal action against Facebook parent company Meta Platforms for\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) -User reports of outages at Alphabet Inc\u2019s YouTube and YouTube TV fell sharply early on Friday from a peak of over\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>SYDNEY (Reuters) \u2013 Australia on Friday named a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/how-to-kill-a-star-astronomers-see-a-demolition-derby-scenario\/\" title=\"Destroying a star: Astronomers witness a cosmic demolition.\">senior air force commander<\/a> as its first cybersecurity boss to help lead the government\u2019s\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A glance at tomorrow&#8217;s U.S. and global markets by Mike Dolan reveals a slowdown in broader business activity despite the surge in world stock prices. June&#8217;s flash business surveys indicate unexpectedly weak growth in the euro zone&#8217;s factory and service sectors.<\/p>\n","protected":false},"author":66,"featured_media":1955028,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1955027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1955027","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1955027"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1955027\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1955028"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1955027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1955027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1955027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}