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US Dollar Rises Early Tuesday Ahead of Redbook, S&P Services

BY MT Newswires | ECONOMIC | 01/06/26 07:47 AM EST

07:47 AM EST, 01/06/2026 (MT Newswires) -- The US dollar rose against its major trading partners early Tuesday ahead of another light data release day.

Weekly Redbook same-store sales are due to be released at 8:55 am ET, followed by S&P Global's services purchasing managers' index data for December at 9:45 am ET.

Richmond Federal Reserve President Tom Barkin is scheduled to speak at 8:25 am ET.

A quick summary of foreign exchange activity heading into Tuesday:

EUR/USD fell to 1.1711 from 1.1725 at the Monday US close but was above a level of 1.1679 at the same time Monday morning. The Eurozone's services PMI fell more than expected in December but remained above the breakeven point, data released earlier Tuesday showed. The next European Central Bank meeting is scheduled for Feb. 5.

GBP/USD fell to 1.3527 from 1.3543 at the Monday US close but was above a level of 1.3460 at the same time Monday morning. The UK's services PMI rose slightly in December to indicate faster expansion while UK car registrations declined in the same month but remained above its year-ago level, according to data released earlier Tuesday. The next Bank of England meeting is scheduled for Feb. 5.

USD/JPY rose to 156.3736 from 156.3354 at the Monday US close but was below a level of 156.5853 at the same time Monday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for Jan. 23.

USD/CAD rose to 1.3767 from 1.3763 at the Monday US close and 1.3762 at the same time Monday morning. Canadian reserve assets data for December are due to be released at 8:15 am ET, followed by Canadian services PMI data for December at 9:30 am ET. The next Bank of Canada meeting is scheduled for Jan. 28.

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

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