-- (Correcting Month for ISM Manufacturing Release to April)
The US dollar rose against its major trading partners early Tuesday, except for a decline versus the pound, before a busy data release schedule that starts with international trade data for March at 8:30 am ET.
Weekly Redbook same-store sales data are due to be released at 8:55 am ET, followed by S&P Global's services survey for April at 9:45 am ET.
RealClearMarkets data for May, ISM manufacturing data for April, job openings data for March, and new home sales data for March are all due to be released at 10:00 am ET, at the same time as an appearance by Federal Reserve Vice Chair for Supervision Michelle Bowman.
The Atlanta Fed is due to update its GDP nowcast estimate for Q2 around midday, and Fed Governor Michael Barr is due to speak at 12:30 pm ET.
A quick summary of foreign exchange activity heading into Tuesday:
EUR/USD fell to 1.1686 from 1.1695 at the Monday US close and 1.1705 at the same time Monday morning. There are no Eurozone data on Tuesday's schedule, but European Central Bank President Christine Lagarde is due to speak at 8:30 am ET, at the same time as ECB Vice President Luis de Guindos, and followed by ECB policy board member Philip Lane at 11:40 am ET. The next European Central Bank meeting is scheduled for June 11.
GBP/USD rose to 1.3538 from 1.3537 at the Monday US close and 1.3514 at the same time Monday morning. UK car registrations declined in April, but the year-over-year rate accelerated, according to data released earlier Tuesday. Bank of England Deputy Governor Sam Woods is due to speak at 12:30 pm ET. The next Bank of England meeting is scheduled for June 18.
USD/JPY rose to 157.7714 from 157.1084 at the Monday US close and 157.1643 at the same time Monday morning. Tuesday is a holiday in Japan, so there were no data released overnight. The next Bank of Japan meeting is scheduled for June 15-16.
USD/CAD rose to 1.3615 from 1.3614 at the Monday US close and 1.3609 at the same time Monday morning. Canadian reserve assets data for April are due to be released at 8:15 am ET, followed by the Canadian trade for March at 8:30 am ET and the Canadian services PMI for April at 9:30 am ET. The next Bank of Canada meeting is scheduled for June 10.