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US Dollar Mixed Early Wednesday Ahead of CPI, Oil Stocks, Treasury Budget

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The US dollar was mixed against its major trading partners early Wednesday -- up versus the euro and Canadian dollar, down versus the pound and yen -- ahead of the release of consumer price data for July at 8:30 am ET and weekly crude oil stocks data at 10:30 am ET.

The US Treasury is due to publish its monthly budget statement for July at 2:00 pm ET.

Earlier Wednesday, the Mortgage Bankers Association said that a decline in mortgage rates lifted applications in the week ended Aug. 7.

A quick summary of foreign exchange activity heading into Wednesday:

EUR/USD fell to 1.1534 from 1.1543 at the Tuesday US close and 1.1536 at the same time Tuesday morning. There are no Eurozone data on Wednesday's schedule. The next European Central Bank meeting is scheduled for Sept. 10.

GBP/USD rose to 1.3517 from 1.3508 at the Tuesday US close and 1.3500 at the same time Tuesday morning. There are no UK data on Wednesday's schedule. The next Bank of England meeting is scheduled for Sept. 17.

USD/JPY fell to 159.1756 from 159.2863 at the Tuesday US close and 159.2587 at the same time Tuesday morning. Japanese business conditions improved in August, according to data released overnight. The next Bank of Japan meeting is scheduled for Sept. 17-18.

USD/CAD rose to 1.3934 from 1.3925 at the Tuesday US close and 1.3933 at the same time Tuesday morning. Canadian building permits data for June are due to be released at 8:30 am ET, followed by consumer sentiment data for August at 11:00 am ET. The next Bank of Canada meeting is scheduled for Sept. 2.

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