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India's Inflation Quickens to 3.4% in March

India's inflation, measured by the Consumer Price Index (CPI), rose to 3.4% annually in March, faster than 3.21% in February, according to data released by the Ministry of Statistics and Program Implementation on Tuesday.The overall increase was driven by a rise in both rural and urban inflation, which stood at 3.63% and 3.11%, respectively, in March.Food inflation, measured by the Consumer Food Price Index, climbed to 3.87% in March from 3.47% in February. Rural food inflation was recorded at 3.96%, while urban food inflation came in at 3.71%.Housing inflation for March was provisionally at 2.11%, with rural housing inflation at 2.54% and urban at 1.95%, the data showed.

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First Home Buyers Hold Over 27% Share of Property Purchases in New Zealand in March Quarter, Cotality Says

The share of first home buyers' property purchases in New Zealand in the March quarter was over 27%, buoyed by lower house prices, reduced mortgage rates, and policy measures, Cotality said in a Tuesday report.More than half of first home buyer loans over January and February were done at less than 20% equity, according to figures from the central bank.First home buyers' share of property purchases in the wider Wellington area was 37% during the period, while it was 33% in Hamilton.Mortgaged multiple property owners' share of property purchases increased back to around 24%, roughly in line with their long-term average. The shift back to 100% deductibility for interest costs supported this increase.Relocating owner-occupiers accounted for around 26% of property purchases in the first quarter, below their average of around 28%.However, the conflict in the Middle East has put an extra layer of uncertainty over a potential economic recovery, as well as the housing market outlook, the report cautioned. Property values this year may now be closer to flat, or even slightly down again, rather than a modest gain of up to 5%.

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Business Confidence in Australia Plunges in March on Middle East Tensions, NAB Says

Business confidence in Australia fell 29 points to negative 29 in March, its lowest level since April 2020 and one of the sharpest declines since the global financial crisis and COVID-19, following the Middle East conflict, National Australia Bank (ASX:NAB) said in a Tuesday report.Business conditions remained at 6 index points, slightly below the long-run average of 7, as an improvement in employment was offset by declines in trading and profitability."The divergence between confidence and conditions highlights how quickly sentiment can respond to global shocks, even as activity data remains more stable in the near term," said Gareth Spence, NAB head of Australian economics.Industry conditions were mixed, with mining and transport and utilities recording the strongest gains, while wholesale experienced the largest decline, the report added.By state, conditions improved in Western Australia and South Australia by 17 and 9 index points, respectively, while Victoria recorded the largest decline, falling by 11 points.Capacity utilization rose past 83% and remained well above its long-run average, while forward orders fell 7 points back below their long-run average, and capital expenditure declined 3 points, reversing last month's increase but still staying elevated."The impact on measures of costs and prices has been immediately obvious, with purchase cost growth in quarterly terms more than doubling to 3% and product price growth rising to 1.1%," Spence added.

BRC: UK Retail Sales Growth Accelerates to 3.1% in March

Retail sales in the UK grew 3.1% year over year on a like-for-like basis in March, against the 0.7% rise in the previous month, according to data from the British Retail Consortium published Tuesday.Analysts were expecting a 0.9% increase for the month.The strongest jump since April 2025 was mainly attributed to higher food sales amid an early Easter, while sales of travel-related goods were impacted by the conflict in the Middle East.

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South Korea's ICT Exports Surge 112% in March

South Korea's information and communication technology (ICT) exports surged 112% to $43.51 billion in March from a year earlier, the Ministry of Trade, Industry and Energy said in a Tuesday release.Imports increased 32.2% to $16.15 billion, resulting in a trade surplus of $27.36 billion, the release said.Exports extended a 14-month growth streak last month, exceeding $40 billion for the first time and accounting for 50.5% of total national outbound shipments. Semiconductor, mobile phone, and computer exports led the strong gains, while those of display and telecommunications equipment declined.By region, shipments to the U.S., China (including Hong Kong), the EU, Taiwan, Vietnam, India, and Japan increased, with imports also rising across most major categories, the release said.

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China's Outstanding Total Social Financing Rises 8% as of End-March

China's outstanding total social financing rose 7.9% year on year to 456.5 trillion yuan as of the end of March, the People's Bank of China said in a press release published late Monday.Among these are outstanding renminbi-denominated loans, which climbed 5.8% from a year earlier to 277.3 trillion yuan, accounting for 60.7%, and outstanding foreign currency loans, which declined 5.3% to 1.120 trillion yuan, accounting for 0.2% of the total social financing.Outstanding government bonds, which accounted for 21.6% of social financing, recorded the biggest increase, jumping 15.9% year on year to 98.5 trillion yuan. It was followed by outstanding corporate bonds, which climbed 7.9% to 35.2 trillion yuan.Meanwhile, the total social financing during the first quarter declined by 354.5 billion yuan to 14.8 trillion yuan.Renminbi-denominated loans also rose by 8.6 trillion yuan, with the outstanding balance of renminbi-denominated loans rising 5.7% to 280.51 trillion yuan.

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Australia's Weekly Consumer Confidence Rises, ANZ Says

Australia's consumer confidence lifted 2.2 points in the April 6 to April 12 week to 64.5 points, recording its second consecutive weekly rise, while the four-week moving average fell 1 point to 62.2 points, ANZ said in a Tuesday report.Weekly inflation expectations declined 0.5 percentage points to 6.7%, while the four-week moving average was unchanged at 7%.The survey's measure for current financial conditions over the last year eased 0.8 points to 52.6, while future financial conditions for the next 12 months rose 4.4 points to 76.4.Short-term economic confidence for the next 12 months was up 3.2 points to 54.1, and medium-term economic confidence for the next five years gained 2.3 points to 76.7.The survey's "time to buy a major household item" subindex increased 1.6 points in the week to 62.7.Most subindices improved last week, which may have been driven by news of the US-Iran ceasefire, the report said.However, on a four-week moving average basis, inflation expectations remain at their highest since this subindex series began in 2010, the bank added.

China Posts 8.5% Rise in March Broad Money Supply

China's broad money supply climbed 8.5% year on year to 353.9 trillion yuan in March, according to data from the People's Bank of China.Narrow money supply climbed 5.1% to 119.3 trillion yuan, while currency in circulation balance rose 13% to 14.7 trillion yuan.Net cash injection in the first quarter was 613.5 billion yuan.

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Singapore's GDP Grows at Slower Pace of 4.6% in Q1

Singapore's economy grew by 4.6% year over year in the first quarter of the year, moderating from the 5.7% growth in the previous quarter, according to data released by the Singapore Department of Statistics on Tuesday.On a quarter-over-quarter seasonally-adjusted basis, the city-state's economy contracted by 0.3%, following a 1.3% expansion in the fourth quarter of 2025.Growth was led by a 5% year-over-year increase in the manufacturing sector in Q1, which was slower than the 11.4% expansion in the previous quarter.The construction sector expanded by 9% year over year, following a 4.6% growth in the previous quarter.Growth in the services-producing industries slightly cooled to 4.7% from 4.8%.

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Australia's Consumer Sentiment Slides in April on Rising Fuel Costs, Rate Hike Pressure: Westpac-MI

Australia's consumer confidence tumbled in April, as rising fuel prices and interest rates added to cost-of-living pressures and weighed heavily on economic sentiment, according to a survey by Westpac and the Melbourne Institute published Tuesday.The Westpac-Melbourne Institute Consumer Sentiment Index fell sharply around 13% to 80.1 in April from 91.6 in March.Australian consumers are facing renewed cost-of-living pressures from rising fuel prices and a 25-basis-point rate hike, driving sentiment to near historical lows and signaling prolonged weakness similar to the 2022 to 2024 inflation period, said Matthew Hassan, head of Australian macro-forecasting at Westpac.All components of the index fell sharply in April, with the biggest declines in "current conditions," especially "family finances vs a year ago," which dropped nearly 17% to 66.8 on higher fuel costs.Average pump prices reached AU$2.40 per liter in the first week of April, rising AU$0.37 from March, marking the largest increase in the survey's history despite a temporary fuel excise tax cut that lowered prices by AU$0.12 per liter.Consumers' outlook for the economy and their finances has deteriorated sharply, with both sub-indices falling as they anticipate continued economic strain, higher fuel prices due to the ongoing disruption in the Strait of Hormuz, and little near-term improvement.Consumers expect higher interest rates and mortgage costs over the next year amid persistent inflation and potential further Reserve Bank of Australia (RBA) hikes, weakening buyer sentiment, as the "time to buy a major item" index fell 15% to 83.3 due to cost-of-living pressures.Consumers' medium-term economic expectations remain relatively resilient, with the "economy, next 5 years" sub-index down 5.1% to 91.4, suggesting expectations that current challenges are temporary.Consumers are growing more pessimistic about the labor market, with unemployment expectations rising 9.7% to 147.8 in April, with job loss concerns increasing most notably in energy and interest rate sensitive sectors such as construction and hospitality.Homebuyer sentiment rose modestly in April, led by gains in the mortgage belt, but it remains well below its long-term average, while price expectations fell sharply but remain relatively optimistic.The RBA is expected to tighten policy again in May as persistent inflation and energy-driven price pressures outweigh weakening demand and falling real incomes.

Brent Crude Oil Expected to Reach $88 Per Barrel by End of 2026, ANZ Research Says

Brent crude oil is expected to stay above $90 per barrel for the remainder of 2026 and reach $88-per-barrel by the end of the year, as tight balances alone are sufficient to sustain the price of Brent near or above recent threshold levels, ANZ Research said in a Tuesday report.The longer the conflict in the Middle East drags on, the more persistent these price dynamics are likely to be, ANZ said.The conflict resulted in large‑scale, realized supply curtailments across core Persian Gulf oil producers. Relative to the analysts' January baseline, 9.5 million barrels per day of crude supply have been effectively removed from the market. This turned a modest expected surplus at the start of the year into a deep deficit.The oil supply recovery is likely to be slow, incomplete and uneven, leaving the market structurally tighter and more volatile through mid‑2026, ANZ said.An estimated 1 million to 2 million barrels per day of oil supply is at risk of being permanently or semi‑permanently lost due to issues such as reservoir damage, aging fields, deferred maintenance, and ongoing sanctions or financing restrictions, according to the report.

Singapore's GDP Growth Slows to 4.6% in Q1

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Australian Wage Growth Steady at 3.1% as Labor Market Stays Resilient, CBA Says

Australia's wages rose 0.8% in the March quarter while employment added about 23,000 jobs, pointing to a steady but gradually cooling labor market with wage growth stabilizing near a new baseline, Commonwealth Bank of Australia (CBA) said in a Monday report.Wage growth has remained steady at 3.1% annually, with recent CBA Wage insights indicating that Australia's labor market is beginning to stabilize after an extended period of strong performance."The CBA Wage insights series continues to show wages growth is steady heading into a period of higher inflation and inflation expectations period due to the Middle East conflict," said Belinda Allen, head of Australian economics at Commonwealth Bank.The labor market remains relatively tight with unemployment at 4.3%, while wages growth has stabilized around 3.1% per year, and there is currently no clear response to tightening conditions, though some easing is expected as economic growth slows in 2026, Allen added.Wage growth across Australia remains uneven by region, with Western Australia leading at 3.9% year-on-year in March, while Victoria and Tasmania lag behind amid a softening trend, and other states and territories recording moderate, steady growth.The bank stated that its internal data does not indicate a clear shift in trends for wages or employment, pointing to a broadly stable outlook despite elevated external risks and inflation expectations.

ASX 200ASX:CBA

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US Equity Indexes Rise Amid Gains in Tech, Financials; Crude Oil Pares Gains on Hopes for Iran Deal

US equity indexes rose, with financials and technology topping sector charts, and crude oil futures paring gains after President Donald Trump attempted to cool geopolitical tensions.The Nasdaq Composite jumped 1.2% to 23,183.74, the S&P 500 climbed 1% to 6,886.24, and the Dow Jones Industrial Average advanced 0.6% to 48,218.25. Defensive sectors -- consumer staples and utilities -- were the lone decliners.All three indexes clawed back intraday declines after President Trump said that "we've been called by the other side," referring to Iran. The US-Tehran talks in Pakistan's capital, Islamabad, over the weekend ended without a lasting peace pact, as uranium enrichment and the Strait of Hormuz remained the main sticking points."They'd like to make a deal very badly," Trump was cited as saying in media reports.West Texas Intermediate crude oil futures rose 1.6% to $98.14, and Brent crude futures climbed 3.2% to $98.27, after surging more than 7.5% each intraday.The CBOE Volatility Index slipped 0.6% to 19.12, after touching an intraday high of 21.58.US Treasury yields mostly fell, with the 10-year yield down 2.2 basis points to 4.30%, after rates rose across most of the yield curve earlier in the session.Trump's comments come as the US military blockade on all traffic entering and leaving Iranian ports came into effect on Monday, CNN reported.More than 15 US warships are in place to support the operation, The Wall Street Journal reported, citing a senior official."If any of these ships [that the president refers to as Iran's 'fast attack ships'] come anywhere close to our BLOCKADE, they will be immediately ELIMINATED," Trump said on his Truth Social post. Iran said no port in the Persian Gulf or the Sea of Oman would be safe if its ports are threatened, The Wall Street Journal reported Monday.A US blockade might stop Iran's flow of oil revenue without destroying or capturing Iran's Kharg Island oil loading point, and so "potentially avoid escalatory Iranian attacks on its Gulf neighbors," according to a note from the Wells Fargo Investment Institute.Meanwhile, Goldman Sachs (GS), which reported higher Q1 earnings and net revenue pre-bell, is launching a new three-tranche offering in the US investment-grade debt market, with bond maturities spanning four to eight years, Bloomberg said Monday, citing a person with direct knowledge of the matter.The Q1 earnings season has begun in earnest with the release of Goldman Sachs' quarterly results. Mega-cap banks, including JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), and Morgan Stanley (MS), will report this week.Further in company news, Oracle (ORCL) said Monday it introduced AI-focused updates to its utilities software suite at its customer edge summit, targeting improvements in billing, grid operations, and asset management. Shares of the technology giant were up 13%, the top gainer on the S&P 500.Microsoft (MSFT), Salesforce (CRM), and ServiceNow's (NOW) recent sell-offs amid the broader software disposal are disconnected from the artificial intelligence opportunities over the coming years, Wedbush said Monday. Shares of Salesforce and Microsoft were up 4.8% and 3.6%, respectively, the Dow's top gainers.

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US Equity Indexes Rise Amid Tech Gains; Crude Oil Pares Gains on Hopes of Iran Peace Deal

US equity indexes were up ahead of Monday's close amid gains in financials and technology.Crude oil futures gave up almost all intraday gains after President Donald Trump's reported comments that he may secure a peace deal after negotiations in Islamabad, Pakistan, failed to yield a resolution of the war in the Middle East.The Nasdaq Composite rose 1.1% to 23,158.6, the S&P 500 climbed 0.9% to 6,876.7, and the Dow Jones Industrial Average advanced 0.5% ti 48,153.5.Defensive sectors -- consumer staples and utilities -- led the decliners. The financial services sector was the top gainer, ahead of quarterly earnings from mega-cap banks due this week.Stocks clawed back intraday declines after President Trump said that "we've been called by the other side.""They'd like to make a deal very badly," Trump added.West Texas Intermediate crude oil futures rose 1.4% to $97.87, and Brent crude futures climbed 3.3% to $98.31, after surging more than 7.5% earlier in the session.Meanwhile, Goldman Sachs (GS), which reported higher Q1 earnings and net revenue pre-bell, is launching a new three-tranche offering in the US investment-grade debt market, with bond maturities spanning four to eight years, Bloomberg said Monday, citing a person with direct knowledge of the matter.

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US Equity Indexes Rise Amid Tech Gains; Crude Oil Jumps as Hormuz Blockade Takes Effect

US equity indexes were higher in Monday's midday trading amid gains in technology and financials.Crude oil futures jumped as geopolitical risk mounted after Iran negotiations failed to yield a lasting peace deal.The Nasdaq Composite rose 0.7% to 23,061.8, and the S&P 500 climbed 0.5% to 6,849.6. Both gauges traded lower earlier in the session. The Dow Jones Industrial Average was slightly up at 47,944.8.Defensive sectors -- consumer staples and utilities -- led the decliners. The financial services sector was among the top gainers, ahead of quarterly earnings from mega-cap banks due this week.Goldman Sachs (GS), which reported higher Q1 earnings and net revenue pre-bell, is launching a new three-tranche offering in the US investment-grade debt market, with bond maturities spanning four to eight years, Bloomberg said Monday, citing a person with direct knowledge of the matter.Shares of the investment bank dropped 2.5% intraday, the steepest decline on the Dow.Further in company news, Oracle (ORCL) said it introduced AI-focused updates to its utilities software suite at its customer edge summit, targeting improvements in billing, grid operations, and asset management. Shares of the technology giant were up 11% intraday, the top gainer on the S&P 500.The recent sell-offs in Microsoft (MSFT), Salesforce (CRM), and ServiceNow (NOW) amid broader software apathy are disconnected from the artificial intelligence opportunities over the coming years, as enterprises prioritize integrating AI across tech stacks, Wedbush said in a note. Shares of Salesforce and Microsoft were up 4.7% and 2.9%, respectively, intraday, the Dow's top gainers.Meanwhile, the CBOE Volatility Index was still up 3.7% to 19.93, after touching an intraday high of 21.58, as geopolitical risk remained elevated after the Iran peace talks brokered by Pakistan ended without an agreement with the US.The US military blockade on all traffic entering and leaving Iranian ports started at 10 a.m. ET Monday, after weekend peace talks in Pakistan faltered, CNN reported Monday. "If any of these ships [a reference to what the president calls Iran's 'fast attack ships'] come anywhere close to our BLOCKADE, they will be immediately ELIMINATED," President Donald Trump said on a social media post.Iran responded by saying that no port in the Persian Gulf or the Sea of Oman would be safe if its ports are threatened, The Wall Street Journal reported Monday."Once again, high stakes negotiations between the US and Iran deadlocked over Washington's zero uranium enrichment demand, setting the stage for further escalation in the 6-week war and prolonged supply disruptions in advance of summer driving season," Helima Croft, head of global commodity strategy and MENA research at RBC Capital Markets, said in a note.West Texas Intermediate crude oil futures jumped 5.3% to $101.68, and Brent crude futures climbed 5.5% to $100.40, after surging more than 7.5% earlier in the session.US Treasury yields rose as gains in crude oil futures reignited inflation concerns. The 10-year yield was up 1.6 basis points to 4.33%, and the two-year rate climbed 1.3 basis points to 3.81%. In precious metals, gold futures fell 1.3% to $4,726.9 and silver futures declined 3.3% to $73.97.In US economic news, the pace of US existing home sales fell by 3.6% to a 3.98 million seasonally adjusted annual rate in March from 4.13 million in February, compared with a smaller decrease expected to a 4.05 million rate in a survey compiled by Bloomberg as of 7:30 am ET, data from the National Association of Realtors released Monday showed. Total sales were down 1% from a year earlier."March home sales remained sluggish and below last year's pace," said NAR Chief Economist Lawrence Yun. "Lower consumer confidence and softer job growth continue to hold back buyers."

March Existing-Home Sales Drop as Macro Headwinds Deter Buyers, NAR Says

US existing home sales decreased in March as softening job growth and weaker consumer confidence continued to deter potential buyers, data from the National Association of Realtors showed Monday.Sales fell 3.6% sequentially to a seasonally adjusted annual rate of 3.98 million units last month. The consensus was for a 0.8% decline, according to a survey compiled by Bloomberg. Sales declined in all regions month on month."Lower consumer confidence and softer job growth continue to hold back buyers," NAR Chief Economist Lawrence Yun said.US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, University of Michigan's preliminary survey showed Friday.The US and Iran failed to reach a deal during negotiations in Pakistan over the weekend, fueling concerns about the durability of an already fragile ceasefire between the two sides.The average 30-year fixed-rate mortgage increased to 6.18% last month from 6.05% in February, the NAR added, citing Freddie Mac data."We don't see much upside for sales over the next several months," Oxford Economics Lead Economist Nancy Vanden Houten said in remarks e-mailed to. "Given the backup in mortgage rates since the start of the war with Iran, we expect home sales to move sideways before starting to gradually rise at the end of the year."Single-family home sales dropped 3.5% month over month to 3.63 million units in March, while condominium and co-op sales fell 5.4% to 350,000 units, NAR data showed."Inventory remains a major constraint on the market," Yun said. "An additional 300,000 to 500,000 homes for sale would help bring the market closer to normal conditions and allow consumers to make purchase decisions without feeling rushed."The median sales price of existing homes rose 1.4% year over year to $408,800, marking the 33rd straight month of annual gains, according to the report."The supply of homes for sale rose in March, but increases are to be expected at the start of the spring home selling season," Vanden Houten said. "Higher mortgage rates will keep some sellers on the sidelines, leaving inventory relatively tight."

India's Inflation Accelerates to 3.4% in March

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