US Dollar Rises Early Tuesday Ahead of Data, Appearances by Federal Reserve Officials

07:46 AM EDT, 10/07/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Tuesday ahead of a busy day of economic data releases and appearances by Federal Reserve officials.

The US government shutdown continues to impact the scheduling of government-produced data releases, postponing the release of international trade data for August.

Weekly Redbook same-store sales data are due to be released at 8:55 am ET, followed by the RealClearMarkets consumer sentiment data for October at 10:00 am ET.

Atlanta Fed President Raphael Bostic is expected to speak at 10:00 am ET, while Fed Vice Chair Michelle Bowman is schedule to appear 10:05 am ET and Fed Governor Stephen Miran at 10:30 am ET.

The New York Fed's inflation report for September is due to be released at 11:00 am ET and the Atlanta Fed is expected to update its gross domestic product Nowcast estimate for Q3 around midday but may not be able to due to the missing trade data.

Minneapolis Fed President Neel Kashkari is due to speak at 11:30 am ET, followed by consumer credit data for August at 3:00 pm ET and another appearance by Miran at 4:05 pm ET.

A quick summary of foreign exchange activity heading into Tuesday:

EUR/USD fell to 1.1666 from 1.1711 at the Monday US close and 1.1668 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 12:10 pm ET. The next European Central Bank meeting is scheduled for Oct. 30.

GBP/USD fell to 1.3419 from 1.3482 at the Monday US close and 1.3422 at the same time Monday morning. UK home prices fell in September, slowing the year-over-year rate, according to data released overnight. The next Bank of England meeting is scheduled for Nov. 6.

USD/JPY rose to 150.8391 from 150.3352 at the Monday US close and 150.3893 at the same time Monday morning. Japanese household spending rose more than expected in August, while the Japanese leading index rose solidly in August, data released overnight showed. The next Bank of Japan meeting is scheduled for Oct. 29.

USD/CAD rose to 1.3956 from 1.3949 at the Monday US close but was below a level of 1.3960 at the same time Monday morning. The Canadian leading index increased nearly in line with the previous month in September, according to data released earlier Tuesday. Canadian trade data for August are due to be released at 8:30 am ET, followed by the Canada IVEY survey for September at 10:00 am ET. The next Bank of Canada meeting is scheduled for Oct. 29.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.