Market Roundup
• Singapore Core CPI (YoY) (Feb) 1.40% , 1.00% previous
• Singapore CPI (YoY) (Feb) 1.2%, 1.4% previous
Looking Ahead Economic Data (GMT)
• 09:00 Greek Current Account (YoY) (Jan) -3.862B previous
•09:00 Spanish Trade Balance (Jan)-5.57B previous
•10:00 Belgium Consumer Confidence (Mar) 1 previous
Looking Ahead Events And Other Releases (GMT)
•09:10 German Buba Mauderer Speaks
Currency Forecast
EUR/USD : The euro dipped on Monday as escalating Middle East tensions dampened risk appetite and boosted demand for the U.S. dollar.Hopes for de-escalation faded after Donald Trump threatened strikes on Iran’s electricity grid, while Tehran vowed retaliation against regional infrastructure.The head of the International Energy Agency warned the crisis could surpass the combined impact of the 1970s oil shocks.The conflict widened further, with Israel launching large-scale strikes on Tehran and Saudi Arabia reporting ballistic missile attacks on Riyadh.On the policy front, the European Central Bank held rates steady but flagged energy-driven inflation risks, while the Bank of England also stayed on hold, and the Bank of Japan signaled a potential rate hike as early as April. Immediate resistance can be seen at 1.1546(38.2%fib), an upside break can trigger rise towards 1.1659 (50%fib).On the downside, immediate support is seen at 1.1472(March 17th low), a break below could take the pair towards 1.1421(23.6%fib).
GBP/USD: The pound edged lower on Monday as pound remained under strain as escalating hostilities in the Middle East and concerns of a prolonged war kept oil prices over $110 per barreland sapped risk sentiment. Oil prices stayed above the $110-per-barrel mark hit last week, with investors weighing how U.S. and Iranian threats to target energy facilities stack up against the release of millions of barrels of seaborne Iranian oil to global markets after Washington temporarily removed sanctions. Risk assets have come under pressure since the war began in late February, as most economies in the region are net energy importers exposed to supply-chain disruptions and imported inflation. Immediate resistance can be seen at 1.3373(38.2%fib), an upside break can trigger rise towards 1.3417(SMA 20).On the downside, immediate support is seen at 1.3260(Lower BB), a break below could take the pair towards 1.3208(23.6%fib).
AUD/USD: The Australian dollar eased against the U.S. dollar amid intensifying global risk aversion, as the U.S. and Iran exchanged escalating threats in the Gulf.Tensions rose after Donald Trump threatened Iran’s electricity infrastructure, prompting Tehran to warn of retaliation and heightening fears of prolonged instability.Persistent infrastructure risks are expected to keep oil and gas prices elevated, reinforcing inflation concerns. Oil remained volatile, with Brent up 0.4% at $112.62 per barrel (around 55% higher this month), while U.S. crude rose 0.8% to $98.98.Looking ahead, Australia’s February CPI data due Wednesday will be a key catalyst for shaping expectations around the RBA’s policy outlook. Immediate resistance can be seen at 0.7012(50%fib), an upside break can trigger rise towards 0.7064(38.2%fib).On the downside, immediate support is seen at 0.6940(Lower BB), a break below could take the pair towards 0.6893(61.8%fib).
USD/JPY: The US dollar strengthened on Monday as escalating retaliatory threats in the Middle East conflict lifted demand for greenback.Trump issued his latest threat to Iran on Saturday, less than a day after signaling the U.S. might be considering winding down the conflict. Iran pledged retaliatory strikes on infrastructure in nearby countries and that the Strait of Hormuz shipping lane for oil would remain closed.The prospect of tit-for-tat strikes on civilian infrastructure in the region threatens the livelihoods of millions of people who rely on desalination plants for water. Japan’s top currency diplomat Atsushi Mimura signaled caution about speculative activity in oil markets spilling over into foreign exchange.
. Immediate resistance can be seen at 159.87(23.6%fib) an upside break can trigger rise towards 160.00(Psychological level) .On the downside, immediate support is seen at 159.01(Daily low) a break below could take the pair towards 158.08 (SMA 20).
Equities Recap
Asian stocks fell on Monday as escalating U.S.-Iran tensions and Israel’s plans for prolonged conflict drove oil price volatility.
Japan’s Nikkei 225 was down by 3.68% , Hang Seng was down at 3.78 %, China A50 was down at 3.84%
Commodities Recap
Gold plunged over 5% on Monday to its lowest level of 2026, extending its worst weekly slump in about 43 years, as Middle East tensions stoked inflation fears and boosted expectations of higher global interest rates.
Spot gold fell 5.8% to $4,226.16 per ounce as of 0633 GMT, its lowest since December 11, and extended losses into a ninth straight session.
Oil prices fluctuated on Monday as markets balanced escalating U.S.-Iran tensions over energy sites with increased Iranian oil supply following a temporary easing of U.S. sanctions.
Brent crude futures rose 65 cents to $112.84 a barrel by 0446 GMT. U.S. West Texas Intermediate was at $98.75 a barrel, up 84 cents. Both contracts were down more than $1 earlier in the session.
