Forex Market Update

The euro bounced back from a 12-year low versus the dollar Monday, but the shared currency is widely expected to remain under pressure as the Federal Reserve and the European Central Bank move in opposite directions on monetary policy.

Ahead of the Federal Open Market Committee policy meeting scheduled to end Wednesday, the euro EURUSD, -0.04%  was at $1.0568 after trading as low as $1.0457, its weakest against the greenback since Jan. 10, 2003. That compared with $1.0496 late Friday in New York.

Meanwhile, the dollar was little changed versus the yen USDJPY, +0.02%   at ¥121.37, compared with ¥121.43 late Friday in New York.

The ICE dollar index DXY, +0.02% a measure of the U.S. currency against a basket of six major rivals, fell to 99.70, compared with a level of 100.19 late Friday.

The WSJ Dollar Index BUXX, +0.01% a measure of the dollar against a wider basket of major currencies, was up slightly at 89.02.

Gasoline Market Update

Nymex April gasoline RBJ5, -0.10% fell 3.4 cents, or 1.9%, to $1.729 a gallon, while April heating oil HOJ5, +0.16%  settled at $1.699 a gallon, down 1.4 cents or 0.8%.

April natural gas NGJ15, +1.47%   fell 1.1 cents, or 0.4%, to $2.716 per million British thermal units.

Oil Market Update

Prices for the U.S. crude-oil benchmark marked their lowest settlement in six years on Monday, as investors remained fixated on a supply glut.

On the New York Mercantile Exchange, April crude CLJ5, -0.50%  settled at $43.88 a barrel, down 96 cents, or 2.1%, after tapping a low under $43. Prices for a most-active contract haven’t settled at a level this low since March 11, 2009. Last week, they fell 9.6%.

April Brent crude LCOJ5, -2.30%  on London’s ICE Futures exchange declined by $1.23, or 2.3%, to end at $53.44 a barrel on the contract’s expiration day.