Russia S&P Global Services PMI declined to 49.5 in March from previous 51.3

The United States (US) Bureau of Labor Statistics (BLS) will release the Nonfarm Payrolls (NFP) data for March on Friday at 12:30 GMT. 

China's Services Purchasing Managers' Index (PMI) eased to 52.1 in March from 56.7 in February, the latest data published by RatingDog showed on Friday. This figure came in weaker than the expectations of 53.7.

China RatingDog Services PMI came in at 52.1 below forecasts (53.7) in March

Japan Jibun Bank Services PMI came in at 53.4, above expectations (52.8) in March

Federal Reserve Bank of Chicago President Austan Goolsbee said on Thursday that he is concerned about the timing of rising oil prices, stating that they could hinder efforts to reduce inflation.

US President Donald Trump signed an executive order that could slap up to 100% on certain imported medicines from companies that don't reach deals with his administration in the coming months, Bloomberg reported on Thursday.

UOB’s Global Economics & Markets Research, led by Enrico Tanuwidjaja and Vincentius Ming Shen, notes that Indonesia’s trade surplus widened slightly in February 2026 to USD1.27bn, extending 70 months of gains.

ING’s Min Joo Kang notes that South Korea’s March consumer price inflation rose modestly, with government fuel caps and food vouchers limiting the impact of higher Oil costs. Core inflation eased slightly, but ING expects recent energy and currency moves to push prices higher in coming months.

Commerzbank’s Volkmar Baur highlights that China’s economy started 2026 slightly better than expected, driven by a sharp rise in exports and a swelling current account surplus.

South Korea FX Reserves dipped from previous 427.62B to 423.66B in March

United Overseas Bank’s Quek Ser Leang notes that USD/SGD is currently under near-term pressure toward 1.2760, but the broader technical backdrop still points to a recovery phase in the second quarter.

DBS Group Research economist Radhika Rao discusses new Reserve Bank of India (RBI) measures aimed at defending the Indian Rupee (INR). The RBI has barred banks from offering rupee NDF contracts to residents and offshore users while keeping deliverable hedging channels open.

Standard Chartered’s Ethan Lester notes that global manufacturing PMIs stayed in expansionary territory in March for an eighth straight month, even as the pace of growth eased from February’s 44‑month high.

Royal Bank of Canada (RBC) analysts note Canada’s trade deficit widened sharply in February to CAD 5.7 billion, far above expectations, as both exports and imports jumped. They highlight one-off Gold imports, stronger equipment and consumer goods demand, and surging motor vehicle exports.

MUFG's Senior Currency Analyst Lloyd Chan highlights the Thai Baht (THB) as one of the more vulnerable Asian currencies under sustained high energy prices.

On Thursday, the US President Donald Trump posted on his Truth Social network a video of a bridge falling in Iran, pressuring Tehran to make a deal.

DBS Group Research economist Radhika Rao notes Indonesia’s March inflation eased to 3.5% year-on-year as government stimulus offset base effects and Lebaran-related pressures.

TD Securities’ Robert Both argues that higher Oil prices will support Canada’s 2026 GDP, but export bottlenecks limit the upside.

United States 4-Week Bill Auction remains at 3.62%

Lorie Logan, President of the Federal Reserve (Fed) Bank of Dallas, said that the Fed should not let balance sheets distract them from the main mission, she also claimed that the balance sheet growth isn’t bad if it meets the publics need at a speech in her bank on Thursday.

BNY's EMEA Macro Strategist Geoff Yu argues that the National Bank of Poland’s (NBP) March rate cut underestimated inflation risks linked to the regional conflict.

Commerzbank’s Tatha Ghose notes that improving PMIs in Poland, Czech Republic and Hungary had signalled a potential upswing, helped by Germany’s earlier recovery signs.

United States EIA Natural Gas Storage Change came in at 36B, below expectations (38B) in March 27

Royal Bank of Canada (RBC) analysts point out that recent and prospective tariff changes, higher energy prices and CUSMA renewal talks will shape Canada’s macro backdrop, relevant for the Canadian Dollar (CAD).

Societe Generale’s Kunal Kundu expects the Reserve Bank of India (RBI) Monetary Policy Committee to keep the repo rate at 5.25% with a neutral stance, focusing on stability after recent Oil and FX shocks.

TD Securities strategists Gennadiy Goldberg, Molly Brooks and Jan Nevruzi argue that proposed Basel III endgame and related US bank capital changes should ultimately support wider US swap spreads, particularly at the long end.

BNP Paribas analysts assess how the new energy shock from war in Iran and higher Oil and gas prices compares with 2022 for the Eurozone. They argue the current backdrop is less inflationary, with weaker demand and fewer supply constraints, and central banks now more reactive.

Singapore Manufacturing PMI: 50.5 (March) vs previous 50.6

Societe Generale analysts note the RBI has barred banks from offering INR NDFs to residents and non-residents to curb speculation, but they argue Rupee headwinds remain structural, tied to FPI outflows, Oil shock dynamics and slowing domestic growth, with 10-year yields seen heading toward 7.20–7.25