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US Dollar Rises Early Monday; Focus on Existing Home Sales, Beige Book, IMF Meetings This Week

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The US dollar rose against its major trading partners early Monday ahead of the release of existing home sales data for March at 10:00 am ET and an appearance by Federal Reserve Governor Stephen Miran at 6:20 pm ET.

Tuesday's highlights include data on small business sentiment and producer prices.

Import and export price data, the first look at manufacturing data for April, and the Federal Reserve's Beige Book are the key releases on Wednesday.

Weekly jobless claims, the first services data for April, and industrial production data for March are the main points on Thursday.

Friday's schedule is light, with only the St. Louis Fed's GDP nowcast estimate for Q1.

The International Monetary Fund is holding its annual meetings this week, so comments by Fed officials and representatives of other central banks will be frequent.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD fell to 1.1700 from 1.1729 at the Friday US close and 1.1713 at the same time Friday morning. There are no Eurozone data on Monday's schedule, but European Central Bank Vice President Luis de Guindos is due to speak at 8:15 am ET. The next European Central Bank meeting is scheduled for April 30.

GBP/USD fell to 1.3439 from 1.3469 at the Friday US close and 1.3440 at the same time Friday morning. UK same-store sales data for March are due to be released at 7:01 pm ET on Monday evening. The next Bank of England meeting is scheduled for April 30.

USD/JPY rose to 159.6931 from 159.3031 at the Friday US close and 159.2051 at the same time Friday morning. Japanese money stock growth accelerated in March, according to data released overnight. The next Bank of Japan meeting is scheduled for April 27-28.

USD/CAD rose to 1.3837 from 1.3835 at the Friday US close and 1.3831 at the same time Friday morning. Canadian building permits data for February are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for April 29.

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