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US Dollar Rises Early Tuesday Ahead of Busy Data Schedule

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The US dollar rose against its major trading partners early Tuesday ahead of a busy day of economic data releases, starting with the Philadelphia Federal Reserve's nonmanufacturing reading for August at 8:30 am ET and weekly Redbook same-store sales at 8:55 am ET.

Home price data for June from FHFA and Case-Shiller are due to be released at 9:00 am ET, followed by consumer confidence and Richmond Fed business conditions data for August, and new-home sales for July, all at 10:00 am ET.

Richmond Fed President Tom Barkin is scheduled to speak at 4:00 pm ET.

A quick summary of foreign exchange activity heading into Tuesday:

EUR/USD fell to 1.1662 from 1.1663 at the Monday US close and 1.1667 at the same time Monday morning. There are no Eurozone data on Tuesday's schedule. The next European Central Bank meeting is scheduled for Sept. 10.

GBP/USD fell to 1.3629 from 1.3631 at the Monday US close and 1.3635 at the same time Monday morning. There are no UK data on Tuesday's schedule. The next Bank of England meeting is scheduled for Sept. 17.

USD/JPY rose to 159.2821 from 159.1522 at the Monday US close and 159.0483 at the same time Monday morning. The Japanese leading index held steady in June while the coincident index rebounded after a decline in the previous month. The next Bank of Japan meeting is scheduled for Sept. 17-18.

USD/CAD rose to 1.3856 from 1.3846 at the Monday US close and 1.3845 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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