SLOW START TO CRITICAL WEEK FOR CURRENCIES

Here is what you need to know on Monday, March 4:

Major currency pairs fluctuate near the previous week's closing levels early Monday as investors gear up for key macroeconomic events and data releases. Sentix Investor Confidence will be featured in the European economic docket on Monday. Later in the week, Federal Reserve (Fed) Chairman Jerome Powell will deliver his semi-annual testimony and European Central Bank (ECB) will announce monetary policy decisions.

As risk flows dominated the financial markets ahead of the weekend, the US Dollar (USD) came under selling pressure, with the USD Index posting losses for the week. Early Monday, the USD Index moves sideways slightly below 104.00 and US stock index futures trade mixed. Meanwhile, the benchmark 10-year US Treasury bond yield holds steady at around 4.2% after falling more than 1.5% on Friday.