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US Dollar Falls Early Tuesday, Focus This Week on Personal Income, GDP Data, Fed Silent

BY MT Newswires | ECONOMIC | 01/20/26 07:41 AM EST

07:41 AM EST, 01/20/2026 (MT Newswires) -- The US dollar fell against its major trading partners early Tuesday after the government holiday Monday, with data the focus this week as Federal Open Market Committee officials are in their 'quiet period' ahead of their next meeting Jan. 27-28.

Tuesday's schedule includes the Philadelphia Federal Reserve's nonmanufacturing reading for January at 8:30 am ET.

The key highlights Wednesday will be weekly mortgage applications and Redbook same-store sales, pending home sales for December and construction spending for September and October.

Thursday's highlights include revised gross domestic product data for Q3, personal income and spending data for October and November, and weekly jobless claims and energy stocks data.

Preliminary S&P Global manufacturing and services for January and the final University of Michigan consumer sentiment reading for January are due to be released Friday.

A quick summary of foreign exchange activity heading into Tuesday:

EUR/USD rose to 1.1733 from 1.1645 at the Monday close and 1.1629 at the same time Monday morning. The Eurozone current account surplus narrowed in November while Eurozone economic sentiment improved in January, data released earlier Tuesday showed. The next European Central Bank meeting is scheduled for Feb. 5.

GBP/USD rose to 1.3459 from 1.3428 at Monday close and 1.3409 at the same time Monday morning but was trending lower earlier Tuesday. The UK's 3-month employment growth was faster than expected in November while jobless claims rose rebounded in December, data released overnight showed. Bank of England Governor Andrew Bailey earlier Tuesday said policymakers will need to be vigilant due to rising geopolitical tensions. The next Bank of England meeting is scheduled for Feb. 5.

USD/JPY fell to 157.7121 from 158.1286 at the Monday close and 157.9757 at the same time Monday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for Friday, when no change in interest rates is expected.

USD/CAD fell to 1.3816 from 1.3868 at the Monday close and 1.3888 at the same time Monday morning. There are no Canadian data on Tuesday's schedule. 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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