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

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

The NZD/USD pair is slightly retreating, where the pair is currently trading around 0.8347 after it reached the highest 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, it recorded a slight drop as aussie fell versus the U.S. dollar; the pair reached its highest level in today's trading session at 1.0701 and reached its lowest level at 1.0680, while it is 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. The data is not major from Europe yet eyes will track the sentiment after disappointing G20 finance chiefs' comments that asked Europe to step-up the fight and expand their rescue programs before they can increase the IMF recourses to fight the crisis leaving the negative pressure evident on the euro.