China Services PMI Hits Three-Month High as New Orders and Hiring Improve 
Japan Finance Minister Defends PM Takaichi’s Remarks on Weak Yen Benefits 
Oil Prices Climb as Middle East Tensions and U.S. Inventory Data Boost Market Sentiment 
Australia’s Corporate Regulator Urges Pension Funds to Boost Technology Investment as Industry Grows 
Asian Currencies Trade Sideways as Dollar Stabilizes, Yen Weakens Ahead of Japan Election 
US-India Trade Bombshell: Tariffs Slashed to 18% — Rupee Soars, Sensex Explodes 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
Taiwan Urges Stronger Trade Ties With Fellow Democracies, Rejects Economic Dependence on China 
Japan Services Sector Records Fastest Growth in Nearly a Year as Private Activity Accelerates 
EZ consumer confidence defied market expectations, fell for a third straight month in March. According to Eurostat, the consumer confidence in the euro zone (flash indicator) fell 0.9p to -9.7 in March. Eurozone consumer confidence weakened amid worries about weaker growth prospects for the global economy.
The index is at its lowest level since December 2014. The data missed market consensus which had expected a pickup in confidence. Still, the index is higher than the long-term average of minus 12.8, and indicates that consumers don’t yet feel pessimistic about their prospects.
The decline of confidence is in line with surveys of business activity, which have pointed to a weakening of growth in the early months of 2016. But official measures of industrial production and construction pointed to a surge in activity during January, while retail sales were also up, leaving it far from clear that the eurozone recovery has started to falter.
Consumer spending has been a main support for the currency area’s recovery since its return to growth in mid-2013. If the weakness in consumer confidence is sustained, it could threaten the already modest recovery.
