The New Zealand Dollar (NZD) is capitalising on a moderate US Dollar (USD) weakness on a calm trading session, with most markets closed on Easter Monday.

The Pound Sterling attracts significant bids against the US Dollar (USD) on Monday, rising 0.45% to near 1.3255 during the European trading session.

Pi Network (PI) is consolidating at press time on Monday, following a nearly 3% rise on Friday. The broader market sentiment remains cautious as US President Donald Trump warns of striking power plants and bridges if no peace deal is reached with Iran by Tuesday.

USD/CAD depreciates as the US Dollar (USD) eases amid improved market sentiment following the reports, suggesting prospects for a ceasefire in the Middle East. The pair trades around 1.3920 during the European hours on Monday.

MUFG’s Lloyd Chan notes that persistent geopolitical tensions around Iran are reinforcing USD strength. Elevated US yields, resilient labour data and fading expectations for Fed rate cuts underpin Dollar carry appeal.

The US Dollar (USD) nudges lower against the Japanese Yen (JPY) on Monday, with trading volumes at low levels as most markets remain closed on Easter Monday. The pair hit session lows at 159.35 on the early European session, as hopes of a peace deal in Iran are putting the US Dollar under pressure.

The EUR/USD pair trades 0.4% higher to near 1.1560 during the European trading session on Monday.

EUR/JPY recovers its recent losses from the previous trading day, hovering around 184.40 during the European hours on Monday. The technical analysis of the daily chart suggests the currency cross is moving sideways within an ascending triangle pattern, indicating consolidation.

BNY’s Bob Savage highlights a severe Oil supply shock, with front‑month Brent spiking above $140 and forward prices far lower, tightening global financial conditions.

Iran has confirmed that it has received the proposal of a ceasefire by the United States (US) through Pakistan and has stated that it is being reviewed, according to a Senior Iranian official, Reuters reports.

Crypto markets begin the week with mixed sentiment, with Bitcoin (BTC) trading above $69,000 following last week’s rebound. Still, markets remain cautious as traders weigh risks stemming from Donald Trump’s renewed threats toward Iran ahead of the ultimatum set for Tuesday.

Dow Jones futures have recovered daily losses and are trading around 46,660, up by 0.06%, during European hours on Monday, ahead of the regular United States (US) open.

Societe Generale economists see the Euro area entering the latest energy shock with improved resilience and reduced Oil and gas intensity.

According to a Reuters report, a source aware of ceasefire proposals between the United States (US) and Iran has stated that both nations are discussing a two-tier deal that involves plans to end hostilities by Monday, followed by the reopening of the Strait of Hormuz and Iran dropping its nuclear a

Here is what you need to know on Monday, April 6:

The AUD/USD pair gathers strength around 0.6910 during the early European trading hours on Monday. Hopes for a US-Iran ceasefire provide some support to the riskier asset, such as the Australian Dollar (AUD) against the Greenback.

EUR/CAD moves little for the second consecutive trading day, trading around 1.6070 during the early European hours on Monday.

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Philip Wee at DBS Group Research argues that USD/JPY looks overextended as it tests Japan’s 160 pain threshold. The pair is supported by the US-Japan rate differential, but markets now price a roughly two-thirds chance of a Bank of Japan (BoJ) rate hike on April 28.

BNY’s Bob Savage flags unpleasant preliminary March inflation in Europe, driven by energy and refined products, with diesel prices above 2022 levels. Governments are capping fuel costs via tax and margin measures, raising fiscal credibility questions.

The GBP/JPY pair trades almost flat at around 210.85 during the early European trading session on Monday.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $103.30 during the early European trading hours on Monday. The WTI price retreats after reports that the United States (US) and Iran are making a push for a 45-day ceasefire. 

Commerzbank’s Dr. Henry Hao and Moses Lim highlight that Brent crude Oil remains supported as Middle East conflict disrupts regional energy infrastructure and constrains OPEC+ supply.

The Euro (EUR) is trading lower against the British Pound (GBP) on a calm week opening, with most markets closed on Easter Monday, and markets wary of risk, amid greater concerns about an escalation of the war in Iran.

Iran’s parliamentary speaker Mohammad Baqer Qalibaf condemned US President Donald Trump’s threats to target energy and transport infrastructure, saying he was being misled by Israel’s Prime Minister Benjamin Netanyahu, Reuters reported on Monday.

Silver price (XAG/USD) trades 0.7% lower to near $72.50 in the late Asian trade on Monday, but is broadly consolidating in a limited range. The white metal turns sideways as investors await Iran’s response to United States (US) President Donald Trump’s ultimatum.

The NZD/USD pair attracts some buyers near the 0.5680 region, or over a four-month trough retested during the Asian session on Monday, and for now, seems to have snapped a two-day losing streak.