On March 10, data released by the German Federal Statistical Office showed that after seasonal and calendar adjustments, Germany's industrial new orders in January fell by 11.1% month-on-month, ending a four-month consecutive growth trend. This was reported as the largest monthly decline in nearly two years. Economists had previously forecasted a decline of 4.5%. At the same time, German industrial output declined for the second consecutive month in January. Analysis suggests that fluctuations in large orders were a significant factor behind the drop in industrial new orders in January. Due to a high volume of large orders in December 2025, the data for January 2026 appeared relatively weak. Excluding large orders, industrial new orders fell by only 0.4% month-on-month in January. By source of orders, domestic new orders in Germany decreased by 16.2% month-on-month, while foreign new orders dropped by 7.1%. Among them, new orders from within the eurozone and outside the eurozone fell by 7.3% and 7.1%, respectively.

Additionally, a survey report released on Monday indicated that after three consecutive increases, the Sentix index, which measures investor confidence in the eurozone economy, dropped sharply by 7.3 points to -3.1 in March, with the expectations component particularly affected. The index is based on a survey of 1,055 investors conducted from March 5 to 7. Sentix Managing Director Patrick Hussy stated in a release, "This casts considerable doubt on the recent rebound in economic outlook confidence within the EU." He added, "The energy price shock and geopolitical risks are significantly dampening the previously optimistic sentiment regarding the eurozone's economic expansion."

Key data to watch today includes Germany's seasonally adjusted export monthly rate for January, France's trade balance for January, the preliminary U.S. wholesale inventory monthly rate for January, and the annualized total of existing home sales in the U.S. for February.

U.S. Dollar Index The U.S. Dollar Index experienced a slight decline yesterday, closing lower after fluctuating, with the current exchange rate hovering around 98.90. Apart from profit-taking exerting some downward pressure, remarks by the U.S. President suggesting the Iran conflict would end "soon" also cooled market risk aversion, contributing to the index's retreat. Furthermore, weaker-than-expected U.S. economic data released during the session added to the selling pressure. Today, focus is on resistance near 99.50, with support around 98.50.

EUR/USD The euro edged higher yesterday, closing with modest gains, and is currently trading near 1.1610. Support came from short-covering, while a softer U.S. dollar, pressured by reduced safe-haven demand and disappointing economic data, also provided a lift. Additionally, positive economic data from the eurozone released during the session offered further support. Resistance is eyed near 1.1700 today, with support around 1.1500.

GBP/USD The British pound climbed yesterday, reaching a one-week high, and is currently trading around 1.3430. The rise was supported by short-covering and a weaker U.S. dollar, which fell after the U.S. President's comments about the Iran war being largely over reduced demand for the dollar as a safe haven. Moreover, diminished expectations for an interest rate cut by the Bank of England also bolstered the currency. Resistance is anticipated near 1.3500 today, with support around 1.3350.