By Reuters Staff
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BENGALURU, April 7 (Reuters) - Activity in India’s dominant services industry expanded for the sixth consecutive month in March, supported by strong domestic demand, but some momentum was lost as authorities imposed fresh restrictions following a surge in coronavirus cases, a survey showed.
The results were broadly backed by a Reuters poll last week that predicted India’s economy would grow faster than previously expected this fiscal year but warned a resurgence of coronavirus cases could derail growth.
The Nikkei/IHS Markit Services Purchasing Managers’ Index fell to 54.6 in March from 55.3 in February but held above the 50-mark separating growth from contraction.
UPDATE 1-Euro zone bond yields edge down, Italy s new issuance in focus Reuters 1 hr ago By Dhara Ranasinghe Euro zone periphery govt bond yields http://tmsnrt.rs/2ii2Bqr (Updates throughout, adds EZ data, Italy 50-year news)
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By Dhara Ranasinghe
LONDON, April 7 (Reuters) - Euro zone bond yields nudged down on Wednesday, with southern European debt stabilising after a sell-off the previous session as markets braced for new supply from Italy and Portugal.
Italy on Wednesday started the process of selling new 50-year and 7-year bonds via a syndicate of banks, having flagged the new issues the previous day. Portugal also said on Tuesday it planned to sell a new bond via a syndicate of banks.
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EUR/USD Forecast: Time to turn down? Vaccine optimism may be premature, Fed could lift dollarANALYSIS |
4/7/2021 8:47:17 AM GMT
EUR/USD has staged a recovery on upbeat vaccine and growth forecasts.
Concerns about eurozone immunization supplies and a tad of Fed hawkish may change the picture.
Wednesday s four-hour chart is showing the currency pair is in overbought territory.
Even before the summer – that is when most Europeans may get a COVID-19 vaccine, according to new estimates. The EU has upgraded its projections for getting its population inoculated amid promising supply estimates. Earlier, prospects for reaching a majority stood at September rather than late June.
Activity in India s dominant services industry expanded for the sixth consecutive month in March, supported by strong domestic demand, but some momentum was lost as authorities imposed fresh restrictions following a surge in coronavirus cases, a survey showed. The results were broadly backed by a Reuters poll last week that predicted India s economy would grow faster than previously expected this fiscal year but warned a resurgence of coronavirus cases could derail growth. The Nikkei/IHS Markit Services Purchasing Managers Index fell to 54.6 in March from 55.3 in February but held above the 50-mark separating growth from contraction. While the March results showed that service sector growth in India softened, rates of expansion for output and new business remained strong relative to the survey trend, noted Pollyanna De Lima, economics associate director at IHS Markit.