EUR/CAD extends its losing streak for the fourth successive session, trading around 1.5910 during the European hours on Tuesday. Traders await the Eurozone preliminary Harmonized Index of Consumer Prices (HICP) data for February, which is scheduled to be published later in the day.

Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data. Silver trades at $84.81 per troy ounce, down 5.78% from the $90.01 it cost on Monday.

Rabobank’s Molly Schwartz notes that Europe faces renewed energy security risks as Middle Eastern LNG reliability deteriorates following QatarEnergy’s production halt.

Annual Harmonized Index of Consumer Prices (HICP) in the Eurozone, as measured by changes in the prices of a representative basket of goods and services in the European Monetary Union, rises at a faster pace of 1.9% in February, against estimates and the previous reading of 1.7%.

Danske Research Team highlights severe disruption to Oil and gas markets as conflict involving the United States, Israel and Iran escalates. Shipping through the Strait of Hormuz has stalled, stranding significant volumes and driving freight rates sharply higher.

Dutch TTF Natural Gas Futures for the April 2026 contract, the benchmark for European Natural Gas prices, are rallying sharply, trading around €59.62, up 33.97% on Tuesday at the time of writing, extending the price surge to more than 85% since Friday's close.

European Central Bank (ECB) governing council member and Governor of the Bank of Greece, Yannis Stournaras said in an interview with Reuters during the day that the central bank needs to be flexible about its monetary policy amid the war between the United States (US), Israel, and Iran.

West Texas Intermediate (WTI) surges more than 6% on Tuesday, climbing above the $75 psychological mark as the ongoing US-Iran war raises fears of potential oil supply disruptions through the Strait of Hormuz.

Nordea analysts Tuuli Koivu and Anders Svendsen say Euro area headline and core inflation stayed close to the ECB target in February, leaving the broader outlook largely unchanged.

Gold price (XAU/USD) trades 2.5% lower to near $5,180 during the European trading session on Tuesday. The yellow metal corrects after rising for four straight trading days. On Monday, the precious metal gained sharply as investors shifted to the safe-haven fleet amid the war in the Middle East.

TD Securities analysts note that markets have scaled back expectations for a March Bank of England cut, but argues the MPC’s domestic focus still supports easing.

The EUR/USD pair plummets 0.85% to near 1.1585 during the European session on Tuesday, and seems on track to test its three-month low of 1.1575.

Commerzbank’s Thu Lan Nguyen notes that Gold briefly surged above USD 5,400 per troy ounce yesterday, outperforming the Dollar and US Treasuries, before retreating back to Friday’s level.

OCBC strategists note the Dollar has strengthened on safe-haven demand, positioning unwind and the divide between energy exporters and importers. They stress that the United States’ status as a net energy exporter and largest LNG exporter since early 2026 underpins USD resilience.

MUFG’s Senior Currency Analyst Lee Hardman reports that the Australian Dollar and Canadian Dollar are holding up better against the US Dollar than European currencies.

BNY’s Head of Markets Macro Strategy Bob Savage reports Japan’s Finance Minister Satsuki Katayama is monitoring markets with “utmost vigilance” and stands ready to act against sharp FX moves as USD/JPY trades above 157.

ING’s Warren Patterson and Ewa Manthey note Brent rallied sharply after Middle East tensions, with the benchmark settling higher but off intraday peaks as traders reassessed disruption risks.

Commerzbank’s Dr. Vincent Stamer notes Euro area inflation rose to 1.9% in February, with core inflation at 2.4%, both above expectations.

The Euro (EUR) trades under mild pressure against the British Pound (GBP) on Tuesday as traders reassess the monetary policy outlook for major central banks amid inflation concerns tied to higher Oil prices driven by the US-Iran conflict.

Nomura analysts argue that the conflict-driven risk environment is likely to intensify appreciation pressure on the Swiss Franc.