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US Dollar Mixed Early Tuesday Ahead of Philadelphia Fed Nonmanufacturing, Redbook

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The US dollar was mixed against its major trading partners early Tuesday -- up versus the pound and yen, down versus the euro and Canadian dollar -- ahead of the release of the Philadelphia Federal Reserve's non-manufacturing reading for July at 8:30 am ET and weekly Redbook same-store sales at 8:55 am ET.

State-level unemployment data for June are due to be released at 10:00 am ET.

A quick summary of foreign exchange activity heading into Tuesday:

EUR/USD rose to 1.1420 from 1.1416 at the Monday US close but was below a level of 1.1431 at the same time Monday morning. Eurozone economic sentiment increased in July, according to data released earlier Tuesday. The next European Central Bank meeting is scheduled for Thursday, when no change in the policy rate is expected.

GBP/USD fell to 1.3410 from 1.3436 at the Monday US close and 1.3468 at the same time Monday morning. UK employment growth accelerated in May and the unemployment rate was steady, but UK jobless claims increased in June, according to data released earlier Tuesday. The next Bank of England meeting is scheduled for July 30.

USD/JPY rose to 162.7452 from 162.5101 at the Monday US close and 162.4203 at the same time Monday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for July 30-31.

USD/CAD fell to 1.4063 from 1.4065 at the Monday US close but was above a level of 1.4023 at the same time Monday morning. There are no Canadian data on Tuesday's schedule. The next Bank of Canada meeting is scheduled for Sept. 2.

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