US Dollar Rises Early Monday; Housing Data, FOMC Minutes, Jackson Hole Key This Week

07:48 AM EDT, 08/18/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Monday, except for a decline versus the Canadian dollar, as July housing data, the minutes of the July 29-30 Federal Open Market Committee meeting and the Jackson Hole Federal Reserve summit Thursday and Friday are the key events this week.

Fed officials usually appear frequently on the TV networks at the summit. The main event will be Fed Chairman Jerome Powell's keynote speech at 10:00 am ET Friday.

The week starts with the New York Fed's services reading for August at 8:30 am ET, followed by the National Association of Home Builders' sentiment reading for August at 10:00 am ET.

Tuesday's highlights include housing starts data for July and weekly Redbook same-store sales.

Weekly mortgage applications and oil stocks inventory data are due to be released Wednesday morning before the FOMC minutes in the afternoon, when analysts will look for the discussion that led to two dissents at the meeting.

Thursday's highlights include weekly jobless claims, the Philadelphia Fed's manufacturing reading for August, flash manufacturing and services estimates for August from S&P Global and existing-home sales data for July.

Friday's data schedule is quiet, so the focus will be on Powell's speech.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD fell to 1.1685 from 1.1708 at the Friday US close and 1.1691 at the same time Friday morning. The Eurozone trade surplus narrowed in June, according to data released earlier Monday. The next European Central Bank meeting is scheduled for Sept. 11.

GBP/USD fell to 1.3545 from 1.3558 at the Friday US close and 1.3561 at the same time Friday morning. UK home prices fell further in August, according to data released overnight, but the year-over-year rate accelerated. The next Bank of England meeting is scheduled for Sept. 18.

USD/JPY rose to 147.4151 from 147.2012 at the Friday US close and 146.9822 at the same time Friday morning. Japanese services purchases improved in June, according to data released overnight. The next Bank of Japan meeting is scheduled for Sept. 18-19.

USD/CAD fell to 1.3797 from 1.3810 at the Friday US close but was above a level of 1.3790 at the same time Friday morning. Canadian housing starts data for July is due to be released at 8:15 am ET, followed by Canadian foreign securities purchases data for June at 8:30 am ET. The next Bank of Canada meeting is scheduled for Sept. 17.

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