US Dollar Falls Early Monday, Focus on ADP Payrolls This Week

07:57 AM EST, 12/01/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Monday before a busy week, with ADP private payrolls due Wednesday the highlight, as the government's November employment report set for Friday is delayed until Dec. 16.

Federal Reserve officials are in their 'quiet period' until after the Dec. 9-10 Federal Open Market Committee meeting, but there are some appearances this week that should not include comments on the economy or monetary policy.

On Monday, S&P Global's manufacturing purchasing managers' index reading for November is due to be released at 9:45 am ET, followed by the Institute for Supply Management's manufacturing reading at 10:00 am ET and an update to the Atlanta Fed's gross domestic product Nowcast reading around midday. Fed Chairman Jerome Powell is due to speak at 8:00 pm ET at a lecture honoring late US statesman George Shultz.

Redbook same-store sales and RealClearMarkets consumer sentiment data for December are due to be released Tuesday.

In addition to the ADP private payrolls report for November, highlights Wednesday include delayed import and export prices and industrial production data for September and nonmanufacturing data for November.

Challenger layoff intentions for November and weekly jobless claims, and natural gas stocks inventory data are all due to be released Thursday.

Friday's highlights include delayed September data on personal income, spending and prices, preliminary University of Michigan consumer sentiment data for December and consumer credit data for October.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD rose to 1.1627 from 1.1602 at the Friday US close and 1.1572 at the same time Friday morning. The Eurozone's manufacturing PMI declined slightly in November to indicate modest contraction, according to data released earlier Monday. The next European Central Bank meeting is scheduled for Dec. 18.

GBP/USD rose to 1.3245 from 1.3239 at the Friday US close and 1.3215 at the same time Friday morning. UK manufacturing PMI held steady in November just above the breakeven point while UK mortgage lending declined in October, data released earlier Tuesday showed. Bank of England policy board member Swati Dhingra is due to speak at 10:30 am ET. The next Bank of England meeting is scheduled for Dec. 18.

USD/JPY fell to 155.0251 from 156.1302 at the Friday US close and 156.1571 at the same time Friday morning after Bank of Japan Governor Kazuo Ueda opened the door to a December rate hike by the BoJ in a speech overnight, saying the Bank would consider the pros and cons of such a move. The next Bank of Japan meeting is scheduled for Dec. 18-19. Also overnight, Japanese manufacturing PMI rose in November, but remained below the breakeven point, while Japanese capital spending growth slowed in Q3.

USD/CAD fell to 1.3957 from 1.3968 at the Friday US close and 1.4025 at the same time Friday morning. S&P Global's Canadian manufacturing PMI data for November are due to be released at 9:30 am ET. The next Bank of Canada meeting is scheduled for Dec. 10.

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