The Reserve Bank of India decided to hold its benchmark interest rates and 'neutral' stance on Wednesday as macroeconomic outlook remains resilient despite elevated geopolitical tensions. At the meeting, the Monetary Policy Committee, governed by Sanjay Malhotra, unanimously decided to keep the policy repo rate unchanged at 5.25 percent.

Germany's factory orders recovered in February, albeit at a slower than expected pace, ahead of the war in Iran, data from Destatis revealed Wednesday. Driven by the substantial growth in the auto industry, factory orders grew 0.9 percent on a monthly basis in February, in contrast to the 11.1 percent decline in January. Orders were forecast to expand 3.0 percent.

UK house prices declined in March as the Iran conflict pushed up inflation expectations and dampened hopes of interest rate reductions, data from the mortgage lender Halifax showed Wednesday. House prices decreased 0.5 percent on a monthly basis in March, reversing February's 0.3 percent increase. The average property price was GBP 299,677.

Factory orders and construction Purchasing Managers' survey results from Germany are due on Wednesday, headlining a busy day for the European economic news. At 2.00 am ET, Destatis is slated to issue Germany's factory orders data. Economists expect orders to grow 3.0 percent on a monthly basis in February, reversing a drop of 11.1 percent in January.

The Reserve Bank of New Zealand maintained its key interest rate on Wednesday, citing the impact of the Middle East conflict on domestic inflation and economic recovery. The Monetary Policy Committee, governed by Anna Breman, decided to hold the key interest rate at 2.25 percent, as widely expected. The bank has lowered its benchmark rate by 325 basis points since August 2024.

The six-currency Dollar Index declined mildly during the week ended April 3 amidst the turbulent geopolitical situation in the Middle East swayed both by escalatory rhetoric as well as peace efforts.

Largely reflecting a steep drop in aircraft orders, the Commerce Department released a report on Tuesday showing new orders for U.S. manufactured durable goods slumped by much more than expected in the month of February. The Commerce Department said durable goods orders tumbled by 1.4 percent in February after falling by a revised 0.5 percent in January.

The euro area private sector logged its softest expansion in nine months in March amid a renewed fall in new orders and intensifying cost pressures, final survey data from S&P Global showed Tuesday. The final composite output index posted 50.7 in March, down from 51.9 in February. This was the lowest reading since last July and above the flash estimate of 50.5.

Eurozone investor confidence deteriorated to a one-year low in April as the war in Iran triggered fears of recession, a survey conducted by the behavioral research institute Sentix showed Tuesday. The investor confidence index plunged to -19.2 in April from -3.1 in March. The score was worse than economists' forecast of -7.5.

Final composite Purchasing Managers' survey results from the euro area and the UK are the top economic news due on Tuesday. At 3.15 am ET, S&P Global publishes Spain's services and composite PMI data. The services index is forecast to fall to 50.7 in March from 51.9 in the prior month.

The Institute for Supply Management released a report on Monday showing a slowdown in the pace of growth by U.S. service sector activity in the month of March. The ISM said its services PMI slid to 54.0 in March after jumping to 56.1 in February, although a reading above 50 still indicates growth. Economists had expected the index to drop to 54.7.

The Australian dollar strengthened against other major currencies in the European session on Monday, on hopes of Iran war de-escalation.

The Labor Department released a report on Friday showing employment in the U.S. surged by much more than expected in the month of March. The report said non-farm payroll employment shot up by 178,000 jobs in March after plunging by a revised 133,000 jobs in February. Economists had expected employment to climb by 51,000 jobs.

Japan's service sector logged strong growth but the pace of expansion eased slightly amid a softer upturn in new orders, survey results from S&P Global showed Friday. The headline final services Purchasing Managers' Index fell to 53.4 in March from a 21-month high of 53.8 in February. The reading was above the initial estimate of 52.8.

China's service sector growth eased sharply in March but business outlook remained positive and cost pressures remained moderate, survey data published by S&P Global showed Friday. The headline RatingDog China services Purchasing Managers' Index fell to 52.1 in March from a 33-month high of 56.7 in February. The score was also below economists' forecast of 53.7.

A report released by the Commerce Department on Thursday showed the U.S. trade deficit increased by less than expected in the month of February. The Commerce Department said the trade deficit widened to $57.3 billion in February from a revised $54.7 billion in January.

First time claims for U.S. unemployment benefits unexpectedly edged lower in the week ended March 28th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims dipped to 202,000, a decrease of 9,000 from the previous week's revised level of 211,000. Economists had expected jobless claims to inch up to 212,000.

Business inventories in the U.S. unexpectedly edged slightly lower in the month of January, according to a report released by the Commerce Department on Wednesday. The Commerce Department said business inventories slipped by 0.1 percent in January following a revised unchanged reading in December.

A report released by the Institute for Supply Management on Wednesday unexpectedly showed slightly faster growth in U.S. manufacturing activity in the month of March. The ISM said its manufacturing PMI inched up to 52.7 in March from 52.4 in February, with a reading above 50 indicating growth. Economists had expected the index to edge down to 52.3.

Retail sales in the U.S. increased by slightly more than expected in the month of February, the Commerce Department revealed in a report released on Wednesday. The Commerce Department said retail sales climbed by 0.6 percent in February after edging down by a revised 0.1 percent in January.

Private sector employment in the U.S. increased by more than expected in the month of March, according to a report released by payroll processor ADP on Wednesday. ADP said private sector employment grew by 62,000 jobs in March after climbing by an upwardly revised 66,000 jobs in February. Economists had expected private sector employment to rise by 40,000 jobs.

The UK manufacturing sector growth moderated in March as rising uncertainty around geopolitical tensions and direction of domestic economic policy led to a scaling back of output, final survey results from S&P Global showed Wednesday. The final manufacturing Purchasing Managers' Index registered 50.0 in March, down from 51.7 in February. The score was also below the flash estimate of 51.4.

The euro area manufacturing sector expanded at the fastest pace since mid-2022 in March, driven by increases in both production and new orders but the war in the Middle East disrupted global logistics and intensified price pressures. The final manufacturing Purchasing Managers' Index climbed to a 45-month high of 51.6 in March from 50.8 in February and remained moderately above the flash estimate.

Final factory Purchasing Managers' survey results and unemployment from the euro area are due on Wednesday. At 3.15 am ET, Spain's manufacturing PMI survey results are due. Economists forecast the index to rise to 50.5 in March from 50.0 in February.

China's manufacturing activity continued to expand in March but the pace of growth moderated from the previous month, survey results from S&P Global showed Wednesday.
The headline RatingDog manufacturing Purchasing Managers' Index fell to 50.8 in March from 52.1 in February. Although the indicator dropped from February's recent peak, the score signaled the second-strongest growth in the past six