US Dollar Falls Early Monday to Start Busy Data Schedule Ahead of Holiday-January 2024-www.financetom.com

US Dollar Falls Early Monday to Start Busy Data Schedule Ahead of Holiday

News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities

US Dollar Falls Early Monday to Start Busy Data Schedule Ahead of Holiday

Nov 25, 2024 4:58 AM

07:34 AM EST, 11/25/2024 (MT Newswires) -- The US dollar fell against its major trading partners early Monday ahead of a relatively light data schedule that will lead into a packed calendar Tuesday and Wednesday prior to the US Thanksgiving Day holiday Thursday.

Monday's schedule includes the Chicago Federal Reserve's national activity index for October at 8:30 am ET and the Dallas Fed's manufacturing index for November at 10:30 am ET.

Tuesday's highlights include the Philadelphia Fed's nonmanufacturing index, home price data, consumer confidence, new home sales, the Richmond Fed's conditions reading and the minutes of the Nov. 6-7 Federal Open Market Committee.

The second look at Q3 gross domestic product growth, the advance trade report, weekly jobless claims, pending home sales, personal income, spending, and prices are only some of the releases on Wednesday's busy schedule.

Following the holiday Thursday, the only data scheduled Friday are the Chicago purchasing managers' index and an update to the St. Louis Fed's GDP nowcast estimate for Q4.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD rose to 1.0479 from 1.0416 at the Friday US close and 1.0412 at the same time Friday morning. There are no Eurozone data on Monday's schedule, but European Central Bank policy board member Philip Lane is due to speak at 10:30 am ET. The next European Central Bank meeting is scheduled for Dec. 12.

GBP/USD rose to 1.2565 from 1.2531 at the Friday US close and 1.2512 at the same time Friday morning. There are no UK data on Monday's schedule. The next Bank of England meeting is scheduled for Dec. 19.

USD/JPY fell to 154.4442 from 154.8091 at the Friday US close but was above a level of 154.3943 at the same time Friday morning. The Japanese leading and coincident readings rose solidly in September though at slower rates than in the previous month. The next Bank of Japan meeting is scheduled for Dec. 18-19.

USD/CAD fell to 1.3975 from 1.3978 at the Friday US close and 1.3998 at the same time Friday morning. Canadian corporate profits for Q3 and manufacturing sales for October are set to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for Dec. 11.

Previous page： US job openings fall in March; layoffs decline Next page： US March Advance Trade Gap Widens Unexpectedly, Inventories Mixed

Comments

Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.

Show More Comments

Related Articles >

US job openings fall in March; layoffs decline

May 25, 2025

WASHINGTON (Reuters) -U.S. job openings dropped sharply in March, but a decline in layoffs suggested that the labor market remained on solid footing despite an ever-shifting tariffs policy casting a pall over the economy. Job openings, a measure of labor demand, decreased 288,000 to 7.192 million by the last day of March, the Labor Department's Bureau of Labor Statistics said...

US March Advance Trade Gap Widens Unexpectedly, Inventories Mixed

May 25, 2025

08:40 AM EDT, 04/29/2025 (MT Newswires) -- The US advance international trade in goods deficit widened to $161.99 billion in March from $147.85 billion in February, according to data released by the US Census Bureau, compared with a smaller $145.0 billion deficit expected in a survey compiled by Bloomberg as of 7:35 am ET. Exports rose by 1.2% in March...

US goods trade deficit widens sharply in March

May 25, 2025

WASHINGTON (Reuters) -The U.S. trade deficit in goods widened sharply in March as imports surged, suggesting that trade exerted a large drag on economic growth in the first quarter. The goods trade gap increased 9.6% to $162.0 billion, the Commerce Department's Census Bureau said on Tuesday. Goods imports soared $16.3 billion to $342.7 billion, likely as businesses rushed to bring...

US, China To Ease Tariffs Gradually After 'Complex' Talks, Says Morgan Stanley — But Cuts China's Growth Outlook

May 25, 2025

As the U.S. and China continue to send mixed signals about the progress of their trade talks, economists at Morgan Stanley project that both nations will begin negotiations and slowly decrease tariffs on Chinese imports to 60% by the end of Q2. What Happened: Despite the anticipated discussions, tariffs are not expected to revert to their pre-January 25 levels. More in-depth talks in the second half of...