Amidst the closure of the Strait of Hormuz due to the ongoing war in the Middle East involving the United States (US), Israel, and Iran, Japan has started releasing oil from its energy reserves.

Iran’s Foreign Minister, Abbas Araghchi, claimed Israeli strikes on fuel depots across Tehran amount to "ecocide," citing the impact on the health of the Iranian capital’s residents, the Guardian reported on Monday. He added that Israel must be punished for its war crimes.

Solana (SOL) edges higher above $90 at press time on Monday, after a 13% rise the previous week. Institutional and retail demand for Solana holds strong, evidenced by rising inflows and Open Interest.

Cardano (ADA) price extends gains, trading above $0.27 on Monday, after surging over 8% and closing above the descending trendline last week.

The GBP/USD pair gains momentum around 1.3255 during the early European session on Monday, bolstered by a weaker US Dollar (USD). The major pair currently trades near its lowest since December 2025.

The Indian Rupee (INR) snaps four-day winning streak against the US Dollar (USD) on Monday. The USD/INR pair opens lower to near 92.80 as the US Dollar’s rally hits a pause amid speculation that the Strait of Hormuz could reopen soon.

Gold prices remained broadly unchanged in India on Monday, according to data compiled by FXStreet.

EUR/JPY gains ground after two days of losses, trading around 182.60 during the Asian hours on Monday.

The EUR/USD pair recovers some lost ground to near 1.1450 during the Asian trading hours on Monday. Nonetheless, the potential upside for the major pair might be limited, as escalating conflict in the Middle East could boost safe-haven currencies such as the US Dollar (USD) against the Euro (EUR). 

South Korea Trade Balance fell from previous $15.5B to $15.3B in February

South Korea Trade Balance down to $15.376B in February from previous $15.5B

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are showing signs of strength on Monday after rallying by 10%, 12% and 8%, respectively, in the previous week.

The cryptocurrency market extends its recovery this week, with Bitcoin (BTC) closing toward $73,000 for a breakout rally, while Ethereum (ETH) and Ripple (XRP) inch closer to $2,200 and $1.50, respectively.

US President Donald Trump warned that the North Atlantic Treaty Organization (NATO) faces a “very bad” future if US allies fail to assist in opening up the strait of Hormuz, the Financial Times reported on Monday.

A spokesperson from China’s National Bureau of Statistics (NBS) outlines various measures during the Asian trading session on Monday, which the government intends to adopt this year to support consumer demand and the economy.

USD/JPY edges lower after four days of losses, trading around 159.60 during the Asian hours on Monday. On the daily chart, technical analysis indicates a persistent bullish bias as the pair remains within the ascending channel pattern.

South Korea Money Supply Growth down to 7.1% in January from previous 7.3%

AUD/USD edges higher after two days of losses, trading around 0.7010 during the Asian hours on Monday. The pair holds ground following the release of key economic data from China.

The NZD/USD pair gains traction to near 0.5805 during the Asian trading hours on Monday. The New Zealand Dollar (NZD) edges higher against the US Dollar (USD) after the release of the Chinese February Retail Sales and Industrial Production reports.

China’s Retail Sales rose 2.8% year-over-year (YoY) in January-February vs. 2.5% expected and 0.9% in December, the latest data released by the National Bureau of Statistics (NBS) showed Monday.

China Fixed Asset Investment (YTD) (YoY) came in at 1.8%, above forecasts (-0.4%) in February

China Industrial Production (YoY) came in at 6.3%, above expectations (5.1%) in February

China Retail Sales (YoY) came in at 2.8%, above forecasts (2.5%) in February

Japanese Prime Minister (PM) Sanae Takaichi said on Monday that “Japan has no plan currently to dispatch its navy to the Middle East to escort vessels.”

China House Price Index down to -3.2% in February from previous -3.1%

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, retreats after touching a near 10-month high of 100.54 in the previous session, trading around 100.20 during Asian hours on Monday.

West Texas Intermediate (WTI) Crude Oil prices retreated from the vicinity of the $100.00 psychological mark, or a one-week high touched during the Asian session on Monday.