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EUR/USD: Time to turn down? Vaccine optimism may be premature, Fed could lift dollar
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Euro zone business activity expanded in March despite lockdowns
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Pandemic slows India s services activity slightly in March - PMI
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ASIA:
The latest edition of the Heritage Foundation’s annual “Index of Economic Freedom,” which ranks countries of world’s freest economies, released Thursday, saw Hong Kong excluded from the list it once dominated because its policies are “controlled from Beijing, the agency reported. The news comes on the eve of China’s annual National People’s Congress, which gets underway in Beijing on Friday with greater control over the territory seemingly on the agenda. The United States, its allies and international human rights organizations have heavily criticized China over the law, which they say has undermined the city’s autonomy and helped Beijing crush dissent.
Synopsis
The India Services Business Activity Index rose to 55.3 in February from 52.8 in January. A figure above 50 indicates expansion, while a sub-50 reading shows contraction.
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Employment continued to fall for the third month in a row and companies noted the sharpest rise in overall expenses for eight years.
A quicker increase in new orders made India’s service providers expand business activity at the fastest rate in a year in February with the Covid-19 vaccine rollout leading to an improvement in business confidence, a private survey showed Wednesday.
The India Services Business Activity Index rose to 55.3 in February from 52.8 in January. A figure above 50 indicates expansion, while a sub-50 reading shows contraction.