Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the Canadian Dollar is modestly firmer against a softer Dollar, supported by narrower 1-year swap spreads and resilient risk appetite despite lower Oil.

Nomura’s Global Markets Research Team argues that Switzerland’s low energy weight in CPI and hydropower reliance limit the inflation impact of higher Oil and gas prices.

GBP/JPY trades higher on Tuesday as the ongoing US-Iran conflict pressures the Japanese Yen (JPY) amid fears that disruptions in the Strait of Hormuz could threaten energy supplies to Japan, which relies heavily on imported Oil.

Brown Brothers Harriman's (BBH) Elias Haddad reports AUD/USD has broken above 0.7100 with momentum toward 0.7150, as Australian sentiment data leave Reserve Bank of Australia expectations largely unchanged.

Rabobank’s Senior FX Strategist Jane Foley notes that the Pound has outperformed since late February, while the Euro has lagged, with recent EUR/GBP gains largely tied to fading expectations of a March BoE rate cut and positioning effects.

ING’s Chris Turner highlights that UK rate markets have seen one of the largest repricings from the energy shock, reflecting high UK inflation and a relatively hawkish Bank of England.

European Central Bank (ECB) economist Georg Muller said on Tuesday that “we shouldn't rush into any decision.”

ING’s Chris Turner reports that EUR/USD held the 1.1500 level despite pressure, with options markets not positioning for a major downside break. He notes that the energy shock has driven a stronger repricing of Euro and Pound rates than US rates, potentially narrowing EUR:USD swap differentials.

GBP/USD extends its gains for the third successive session, trading around 1.3480 during the early European hours on Tuesday.

Here is what you need to know on Tuesday, March 10:

The AUD/JPY cross trades in positive territory near 111.80 during the early European session on Tuesday. The Australian Dollar (AUD) strengthens against the Japanese Yen (JPY) as China's trade surplus grew more than expected at the beginning of 2026, driven by a significant surge in exports. 

The EUR/USD pair edges lower to around 1.1615 during the early European session on Tuesday. Concerns over oil flow disruptions through the Strait of Hormuz boost the US Dollar (USD) as a safe-haven and create a headwind for the major pair. 

USD/CHF edges higher after two days of losses, trading around 0.7780 during the Asian hours on Tuesday. The pair gains ground as the US Dollar (USD) inches higher after a sharp intraday drop in the previous session.

The USD/CAD pair struggles to build on the overnight bounce from the 1.3525 area, or a nearly one-month low, and oscillates in a narrow band during the Asian session on Tuesday. Spot prices currently trade below the 1.3600 mark, nearly unchanged for the day, amid mixed fundamental cues.

The EUR/JPY cross loses traction to around 183.20 during the early European session on Tuesday. The Japanese Yen (JPY) strengthens against the Euro (EUR) as escalating conflict in the Middle East boosts safe-haven demand. 

USD/INR rebounds after registering little losses in the previous session. However, the pair reached an all-time high of 92.81 on Monday as the Indian Rupee (INR) faces intense selling pressure amid increased risk aversion and higher oil prices.

The GBP/USD pair struggles to capitalize on the previous day's move higher and edges lower during the Asian session on Tuesday. Spot prices, however, manage to hold above the 1.3400 mark as investors await further developments surrounding the US-Israel-Iran war before placing fresh directional bets.

The NZD/USD pair attracts some sellers during the Asian session on Tuesday and erodes a part of the previous day's goodish recovery gains from levels just below mid-0.5800s.

USD/CAD edges higher after two days of losses, trading around 1.3600 during the Asian hours on Tuesday.

The USD/JPY pair attracts fresh sellers following a modest Asian session uptick to the 158.00 neighborhood and turns lower for the second consecutive day on Tuesday.

Silver price (XAG/USD) extends its gains for the third successive session, trading around $87.60 per troy ounce during the Asian hours on Tuesday.

The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Tuesday at 6.8982 compared to the previous day's fix of 6.9158 and 6.8891 Reuters estimate.

The General Administration of Customs will publish its data for February on Tuesday at 03.00 GMT. Trade balance is expected to widen to $179.60B in February, compared to $114.10B in the previous reading.

GBP/USD rose about 0.3% on Monday, falling just short of reclaiming 1.3450 after rebounding from a dip to around 1.3280 in the early session.

NZD/USD rose about 0.6% on Monday, closing near 0.5950 after knocking on 0.5850 in the early session.

AUD/USD jumped about 0.8% on Monday, closing just shy of 0.7100 in a session that erased a large portion of last week's pullback.

The Canadian Dollar (CAD) struggles to build on gains against the US Dollar (USD) on Monday as a sharp pullback in Oil prices weighs on the commodity-linked Loonie, even as the Greenback trades under pressure.

USD/JPY trades around 158.10 on Monday at the time of writing, up 0.10% on the day, as markets react to heightened geopolitical tensions in the Middle East and sharp moves in the energy market.

EUR/USD regains ground on Monday after opening the week with a bearish gap. The recovery comes as the US Dollar (USD) gives up earlier gains, allowing the Euro (EUR) to rebound from its lowest level in more than three months.

The British Pound losses some ground versus the US Dollar on Monday as risk aversion keeps the Greenback bid, sponsored by the escalation of the Iran conflict. This triggered a sudden jump of oil prices, which are up 11%, retreating after gaining nearly 30% during the Monday’s Asian session.