07:28 AM EDT, 08/05/2024 (MT Newswires) -- The US dollar fell against its major trading partners early Monday, except for an improvement against the pound, to start a lighter week of data releases and a return to Federal Reserve speakers after last week's Federal Open Market Committee meeting.

The July employment report was softer than expected when it was released Friday morning, weighing on the dollar and equities markets, so comments from Fed officials regarding its impact on future FOMC decisions will be watch closely.

Manufacturing data for July from S&P Global are set to be released at 9:45 am ET, followed by the Institute for Supply Management's manufacturing report for the same month at 10:00 am ET. San Franciso Fed President Mary Daly, a voter on the FOMC this year, is scheduled to speak at 5:00 PM ET.

Tuesday's highlights include weekly Redbook same store sales and consumer sentiment data. Weekly mortgage applications and energy stocks data and consumer credit data for June are due for release Wednesday.

Highlights Thursday include weekly jobless claims and natural gas data and wholesale inventories data for June. The St. Louis Fed's initial estimate of Q3 gross domestic product is due to be released Friday.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD rose to 1.0950 from 1.0913 at the Friday US close and 1.0823 at the same time Friday morning. The Eurozone services purchasing managers' index declined modestly in July but continued to indicate expansion, while June producer prices rebounded after a decline in May, data released earlier Monday showed. The next European Central Bank meeting is scheduled for Sept. 12.

GBP/USD fell to 1.2755 from 1.2809 at the Friday US close but was above a level of 1.2736 at the same time Friday morning. The UK's services PMI rose further above the breakeven point in July, data released overnight showed. The next Bank of England meeting is scheduled for Sept. 19.

USD/JPY fell to 142.3001 from 146.5951 at the Friday US close and 148.8672 at the same time Friday morning. Japan's services PMI rose back above the breakeven point in July, indicating a return to expansion, data released overnight showed. The next Bank of Japan meeting is scheduled for Sept. 19-20.

USD/CAD fell to 1.3862 from 1.3867 at the Friday US close and 1.3882 at the same time Friday morning. Monday is a holiday in Canada, so there are no data releases on the schedule. The next Bank of Canada meeting is scheduled for Sept. 4.