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.

AUD/USD advances on Monday, trading around 0.7040 at the time of writing, up 0.24% on the day. The pair benefits from renewed demand for the Australian Dollar (AUD) as stronger-than-expected economic data from China provides support to currencies closely linked to Chinese growth.

BNP Paribas Economic Research Team projects Euro appreciation versus the Dollar, supported by structural changes in US fiscal policy and an expected strengthening of growth in Europe.

GBP/JPY extends gains on Monday, rising for a third consecutive day as traders reassess the monetary policy outlook for the Bank of England (BoE) and the Bank of Japan (BoJ) amid soaring Oil prices driven by the escalating US-Iran war, which is reviving global inflation concerns.

EUR/JPY trades around 183.20 on Monday, up 0.35% on the day at the time of writing, as the Japanese Yen (JPY) weakens against the Euro (EUR).

ING’s Chris Turner notes that USD/JPY is back in Japan’s FX intervention zone as global shocks and Oil prices surge. He sees coordinated US–Japan action as unlikely but warns that any such move could knock USD/JPY down by several big figures.

Societe Generale’s Kenneth Broux highlights that soaring energy prices and Dutch gas strength are weighing on Euro sentiment, keeping EUR/USD under pressure. The bank notes that rate differentials are not driving the pair, with the focus instead on growth risks from higher Oil and gas.

The USD/INR pair looks all set for its lifetime highest closing at around 92.80 on Monday. The pair trades strongly higher as the Indian Rupee (INR) faces intense selling pressure amid war in the Middle East involving the United States (US), Iran, and Israel, which has spiked oil prices.

The Eurozone Sentix Investor Confidence Index arrives -3.1 in March from 4.2 in February.

Rabobank strategists Molly Schwartz and Jane Foley report that EUR net long positions have declined for a third consecutive week, driven by increased shorts.

Eurozone Sentix Investor Confidence: -3.1 (March) vs previous 4.2

The Pound Sterling is down 0.5% to near 1.3350 against the US Dollar (USD) during the European trading session on Monday.

ING’s Chris Turner highlights that strong support just below 1.1500 in EUR/USD is increasingly at risk as elevated Oil prices hurt Europe’s terms of trade. Despite narrowing US–eurozone rate differentials, he sees only limited upside on any IEA-driven relief rally.

EUR/GBP inches higher after two days of losses, trading around 0.8670 during the European hours on Monday. The currency cross remains stronger following the release of German Factory and Industrial Production data. Eurozone’s Sentix Investor Confidence will be eyed later in the day.

Rabobank analysts Molly Schwartz and Christian Lawrence argue that heightened geopolitical risk from the war in Iran has reinforced safe-haven demand for the Dollar, keeping USD/CAD supported even as the US–Canada rate differential is projected to narrow to 75bp by end-2026.

The EUR/USD pair holds onto Asian trade losses around 1.1540 during the European trading session on Monday. The major currency pair is under severe pressure as demand for riskier assets remains weak due to the intensified war in the Middle East involving the United States (US), Israel, and Iran.

The AUD/USD pair attracts some buyers in the vicinity of mid-0.6900s, or a four-day low touched earlier this Monday, and fills the weekly bearish gap heading into the European session.

USD/CAD continues to lose ground for the second successive session, trading around 1.3550 during the early European hours on Monday. The technical analysis of the daily chart shows the pair remains within the descending channel pattern, suggesting a persistent bearish bias.

The AUD/JPY cross holds positive ground near 111.05 during the early European trading hours on Monday. The stronger-than-expected Chinese economic data provide some support to the China-proxy Aussie.

The Japanese Yen (JPY) underperforms against its major currency peers, except the Euro (EUR) and the Pound Sterling (GBP), is down 0.4% to near 158.50 during the early European trading session on Monday.

The Indian Rupee (INR) sinks to a fresh all-time low against the US Dollar (USD) in the opening trade on Monday.

Silver price (XAG/USD) tumbles to near $82.80 during the early European session on Monday. A strengthening US Dollar (USD) and fading expectations for Federal Reserve (Fed) rate cuts exert some selling pressure on the white metal. 

The NZD/USD pair recovers a few pips from a four-day low, around the 0.5845 area touched during the Asian session, and fills a part of the weekly bearish gap opening on Monday.