The 0.10 percentage point uptick may point to a cooling in the pace of job creation or a gradual return of workers to the labor force after earlier declines. However, with unemployment still well below 3%, the data indicate that Mexico’s economy continues to absorb workers at a relatively strong rate.

Investors and policymakers will be watching upcoming releases closely to see whether March marks the start of a gradual upward trend in unemployment or a temporary pause within a broader pattern of labor market strength.

The figures indicate that while the recovery is still fragile, the economy managed to halt a short‑term downturn and return to slight growth. The January data reflected a significant month‑over‑month decline versus December, whereas February’s improvement suggests a stabilization in activity levels from the prior month.

On a comparative basis, the February result is measured against January 2026, while the earlier January figure is benchmarked against December 2025. This month‑over‑month approach highlights the shift from a pronounced contraction to marginal expansion, signaling that Mexico’s economy may be regaining some momentum after a weak start to the year.

The 0.20 percentage point decrease suggests a modest improvement in labor market conditions over the month, indicating that a slightly larger share of the working-age population has found employment or remained employed. While the data are not seasonally adjusted and can be influenced by calendar and seasonal factors, the lower March reading signals a firmer job market compared with the previous month.

Analysts and investors will be watching upcoming releases to see whether this downward trend in unemployment continues and how it aligns with broader indicators of economic activity, such as output, consumption, and wage dynamics in Mexico through the rest of 2026.

The unchanged reading suggests that while the economy is not deteriorating further on a year-over-year basis, it is also not yet showing signs of renewed growth. With both January and February 2026 posting identical -0.30% year-over-year drops, the data point to a period of stagnation in Mexico’s economic activity at the start of the year.

The indicator compares the change in activity each month with the same month a year earlier. January 2026’s figure reflected performance against January 2025, and February 2026’s against February 2025, underscoring that the slight contraction has now persisted for at least two consecutive months on a year-over-year basis.

The visit comes on the heels of recent Iranian–Pakistani discussions on a ceasefire, though significant uncertainties persist. US President Donald Trump reiterated that he wants a “great deal” but is “not in a rush.” Despite Friday’s rebound, gold remains on track for a weekly decline, as peace talks have yielded only limited progress so far, while the continued closure of the Strait of Hormuz has pushed energy prices higher. Rising inflation risks and the prospect of interest rate hikes continue to pressure non-yielding bullion.

The services account deficit increased to $4.8 billion from $4.2 billion, reflecting higher expenses in telecommunications, computing and information services (up 27.4%), intellectual property services (up 9.2%), and transport (up 7.5%).

The primary income deficit widened 17.8% to $7.4 billion. Net interest expenses surged 33.5% to $2.6 billion, driven by greater intercompany operations, while net profit and dividend outflows rose 10.7% to $4.8 billion.

Over the 12 months through March 2026, the current account deficit increased to $64.3 billion, or 2.71% of GDP, compared with $61.2 billion, or 2.61% of GDP, in February.

The improvement in the net FX reserves ratio points to enhanced capacity to support the national currency and meet external obligations. While no additional details were provided on the underlying drivers, the upward move from 55.59% to 58.38% marks a notable gain in Turkey’s reserve position over the latest reporting period.

Market participants and observers are likely to watch upcoming data releases closely to assess whether this trend in Turkey’s net FX reserves can be sustained and what it may imply for broader financial stability and monetary policy going forward.

The latest reading indicates a cooling in capital inflows after a strong February, but still reflects a solid level of investor interest in Latin America’s largest economy. While the month‑to‑month decline suggests some loss of momentum, the overall volume of foreign investment remains substantial in absolute terms, underscoring Brazil’s ongoing role as a key destination for international capital in the region.

Market observers are likely to watch upcoming releases closely to gauge whether March’s pullback marks the start of a more sustained moderation or simply a short-term adjustment following February’s higher inflow.

The drop in reserves may draw attention from investors and analysts monitoring Turkey’s capacity to manage external financing needs and currency volatility. While the figures alone do not explain the drivers of the decline, the reduced stock of FX reserves could factor into market assessments of the country’s macroeconomic resilience and policy room in the coming period.

The increase in reserves enhances India’s capacity to manage external shocks, support currency stability, and cover imports and external obligations. While no additional details were provided on the drivers of the rise, the sustained build-up in FX reserves is typically viewed as a positive signal for investors monitoring India’s balance-of-payments resilience and macroeconomic stability.

The widening gap suggests increased pressure on Brazil’s external accounts during March, which may reflect shifts in trade flows, income payments, or services balances. While the data do not detail the underlying drivers, the continued expansion of the deficit could keep investor attention focused on Brazil’s capacity to finance its external needs and the potential implications for the currency and broader financial conditions.

Geopolitical tensions persisted, with the US and Iran maintaining their standoff in the Strait of Hormuz. The absence of meaningful progress in talks has dampened expectations of a near-term agreement, helping to sustain this week’s sharp increase in energy prices.

Even so, strong earnings continued to support equity markets, especially in the AI-focused, growth-oriented segments. Intel jumped 25% in pre-market trading after reporting robust quarterly results and sharply upgrading its sales and profit outlook for the year. Together with upbeat figures from Germany’s SAP, Intel’s rally added further momentum to AI-related names, lifting Microsoft, Oracle, and Palantir by more than 1% each.

Consumer staples also participated in the gains, with Procter & Gamble rising more than 3% after beating revenue estimates and reaffirming its full-year guidance.

The Current Situation Index increased 2.1 points to 83.2. Within this component, the indicator of households' current financial situation climbed 3.9 points to 76.0, the highest reading since February 2020, while the indicator of the current local economic situation edged up 0.3 points to 95.0.

The Expectations Index gained 0.2 points, reaching 92.3. The indicator of households’ future financial situation advanced 0.9 points to 90.3, its highest level since December 2025, while expectations for the overall economy remained unchanged at 105.5. In contrast, planned purchases of durable goods slipped 0.3 points to 82.5.

M3, which captures currency in circulation along with various deposit components, is closely watched as a gauge of overall money available in the system. The slowdown from 13.0% to 11.9% suggests that the pace of monetary expansion has tempered, a development that markets may read as a sign of slightly tighter financial conditions compared with earlier periods of faster growth.

While the data alone does not indicate the policy stance, the deceleration in M3 growth will be of interest to investors tracking credit trends, inflation dynamics and the broader macroeconomic outlook for India. Further readings in the coming months will help clarify whether this marks the start of a more sustained trend in money supply moderation.

The one-point rise suggests Brazilian consumers are cautiously more optimistic than in the previous month, but still wary about the broader economic outlook. The move higher in April may reflect incremental gains in expectations or current conditions, yet the level of the index highlights that confidence has not fully recovered and continues to signal a subdued consumption environment.

For markets and policymakers, the April uptick will be watched as an early sign of whether domestic demand could gradually strengthen, or if sentiment will remain fragile in the coming months. With the index still in pessimistic territory, sustained improvements will likely be needed before consumer spending becomes a stronger driver of Brazil’s economic momentum.

The Board of Directors noted that inflation expectations have eased compared with the previous meeting, creating additional room for looser financial conditions. At the same time, the Board highlighted that tax increases introduced in the first quarter of the year have weighed on economic activity. These measures were adopted by the government to help finance the war in Ukraine and to fund fiscal stimulus aimed at supporting households in Russia’s sanctions-hit economy.

According to the Bank, pro-inflationary risks still outweigh disinflationary ones, suggesting that there may be limited scope for further rate cuts. However, policymakers also indicated that lower interest rates could help expand aggregate supply capacity, which has been under pressure since the start of the war, thereby alleviating some inflationary pressures over time.

Selling pressure was broad-based across sectors but most pronounced in information technology. The IT index slumped over 5%, led by steep declines in Infosys (-7.1%) and HCLTech (-5.8%), as both companies issued cautious revenue growth guidance despite reporting robust fourth-quarter earnings. Tata Consultancy Services (-4.8%) posted its first annual revenue decline in more than two decades, further dampening sentiment.

Pharma and FMCG stocks also came under increased pressure. Meanwhile, JP Morgan downgraded Indian equities to “neutral” from “overweight,” citing elevated valuations and potential earnings headwinds stemming from energy price shocks following the Iran conflict. For the week, the Sensex fell 2.3%.

By source market, arrivals from mainland China climbed 10.6% to 2,392,526, including a 17.9% increase in visitors travelling under the Individual Visit Scheme, which reached 1,265,730. Arrivals from Hong Kong (621,973) and Taiwan (102,682) expanded by 4.5% and 35.1%, respectively.

Among other key markets, visitor numbers from the Philippines (up 4.9% to 41,129), India (up 30.6% to 10,959), and the United States (up 11.3% to 15,250) all registered growth. In contrast, arrivals from Japan (down 1.1% to 17,982) and Singapore (down 2.3% to 11,449) recorded declines.

For the first quarter of 2026 as a whole, total visitor arrivals increased 13.7% year-on-year to 11,213,904.

At the Swiss National Bank’s General Meeting, Chairman Martin Schlegel reiterated that the SNB remains ready to adjust monetary policy and intervene in foreign exchange markets, underscoring its willingness to purchase foreign currencies to curb franc strength. He also warned that Switzerland faces a more uncertain economic outlook, characterized by subdued short-term growth and a likely pickup in inflation driven by higher energy costs. Recently, Swiss inflation has been hovering at the lower bound of the SNB’s 0–2% target range, which the central bank defines as consistent with price stability.

In contrast, imports rose 5.4% to EUR 2 billion, supported by higher purchases of machinery and equipment (74.6%), miscellaneous manufactured articles (4.1%), food and live animals (6.5%), and chemicals and related products (2.7%). The strongest import growth came from Japan (916.9%) and the United States (47.4%).

The indicator for FDI fell to -7.30% in March 2026, weakening from -5.70% recorded in February 2026. The deeper negative reading suggests foreign investors further scaled back their commitments, underscoring persistent caution toward deploying new capital into the world’s second-largest economy.

The back-to-back deterioration in February and March highlights ongoing headwinds for China’s external funding environment at a time when policymakers are seeking to stabilize growth and restore investor confidence. While the data provide a clear signal of mounting pressure on inbound investment, further releases in the coming months will be closely watched for signs of either stabilization or continued erosion in foreign capital flows.

The downturn was most pronounced in accommodation and food services (-35), where substantially more respondents forecast a weaker business environment, lower output, and reduced employment. The construction sector also remained subdued (-21), with expectations tilted toward softer activity and notably lower selling prices.

By contrast, financing and insurance (+12) recorded a more positive outlook, with more respondents expecting better business conditions and higher output. Overall, selling price expectations were stable to higher across most sectors, particularly in import/export trade and wholesale, where more firms anticipated price increases. Construction was the main exception, with a significantly larger share of respondents expecting lower tender prices.