The Asian session at the beginning of the week isn't so optimistic, where most of the major Asian currencies are retreating after the pessimistic data from NZ.

New Zealand's trade balance unexpectedly posted a trade deficit in January, where the nation's exports dropped and an airline imported a large aircraft, weakening the local currency.

As, the NZD/USD pair is slightly retreating against the U.S. dollar, where the pair is currently trading around the level of 0.8347 after reached its highest price at 0.8350 and lowest at 0.8342.

Moving to the Japanese currency, as the USD/JPY pair is advancing, as it is currently trading around 81.14, after it recorded its highest at 81.17 and lowest at 81.11.

Moving to the Australian dollar, as it recorded a slight retreat against the U.S. dollar and the AUD/USD pair reached its highest level in today's trading session at 1.0701 and reached its lowest level at 1.0680, while it currently trading around 1.0682.

Heading to Europe, it has important data to be released today where the euro zone will release the monthly seasonally adjusted reading for the M3 in January, where it's expected to record a dropped reading, on the other hand the annual seasonally adjusted reading for the M3 in January will be release as well, yet its expected to record a slight advance.