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US Dollar Falls Early Wednesday Ahead of Empire State Manufacturing Data, Fed Appearances, Beige Book

BY MT Newswires | ECONOMIC | 10/15/25 07:40 AM EDT

07:40 AM EDT, 10/15/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Wednesday before the release of the New York Federal Reserve's Empire State manufacturing survey for October at 8:30 am ET.

Atlanta Fed President Raphael Bostic is due to speak at 12:10 pm ET, followed by Fed Governor Stephen Miran at 12:30 pm ET, Fed Governor Christopher Waller at 1:00 pm ET, the Fed's Beige Book survey at 2:00 pm ET and Kansas City Fed President Jeffrey Schmid at 2:30 pm ET.

Earlier Wednesday, the Mortgage Bankers Association said mortgage applications fell in the week ended Oct. 10 while mortgage rates moved slightly lower.

A quick summary of foreign exchange activity heading into Wednesday:

EUR/USD rose to 1.1629 from 1.1606 at the Tuesday US close and 1.1548 at the same time Tuesday morning. Eurozone industrial production declined in August, lowering the year-over-year rate, according to data released earlier Wednesday. European Central Bank Vice President Luis de Guindos is due to speak at 2:00 pm ET. The next European Central Bank meeting is scheduled for Oct. 30.

GBP/USD rose to 1.3360 from 1.3326 at the Tuesday US close and 1.3268 at the same time Tuesday morning. There are no UK data on Wednesday's schedule, but Bank of England policy board member Sarah Breeden is due to speak at 11:00 am ET. The next Bank of England meeting is scheduled for Nov. 6.

USD/JPY fell to 151.3572 from 151.6884 at the Tuesday US close and 152.0412 at the same time Tuesday morning. Japanese industrial production declined more than expected in August, according to data released overnight. The next Bank of Japan meeting is scheduled for Oct. 29.

USD/CAD fell to 1.4036 from 1.4042 at the Tuesday US close and 1.4073 at the same time Tuesday morning. Canadian manufacturing and wholesale sales data for August are due to be released at 8:30 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.

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