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US Dollar Mixed Early Wednesday Ahead of Redbook, Pending Homes, Construction Spending Data

BY MT Newswires | ECONOMIC | 01/21/26 07:41 AM EST

07:41 AM EST, 01/21/2026 (MT Newswires) -- The US dollar was mixed against its major trading partners early Wednesday -- up versus the euro and pound, down versus the yen and Canadian dollar -- ahead of a busier economic data schedule after Tuesday's slow start to the week.

Weekly Redbook same-store sales data are due to be released at 8:55 am ET, followed by pending home sales data for December and construction spending data for October at 10:00 am ET.

The Atlanta Federal Reserve is due to update its gross domestic product Nowcast estimate for Q4 around midday.

Earlier Wednesday, the Mortgage Bankers Association reported mortgage applications rose further in the week ended Jan. 16 due to another dip in 30-year fixed mortgage rates to their lowest point since September 2024.

A quick summary of foreign exchange activity heading into Wednesday:

EUR/USD fell to 1.1714 from 1.1719 at the Tuesday US close and 1.1735 at the same time Tuesday morning. There are no Eurozone data on Wednesday's schedule, but European Central Bank President Christine Lagarde said earlier in the day US trade tariffs could be inflationary for Europe in the near term and increase uncertainty in the region. Lagarde is due to speak again at 11:45 am ET. The next European Central Bank meeting is scheduled for Feb. 5.

GBP/USD fell to 1.3413 from 1.3433 at the Tuesday US close and 1.3464 at the same time Tuesday morning. UK consumer prices rebounded as expected in December, maintaining the year-over-year rate at the November level, according to data released overnight. Bank of England Senior Deputy Governor Sam Woods is due to speak at 9:15 am ET. The next Bank of England meeting is scheduled for Feb. 5.

USD/JPY fell to 157.8656 from 158.2089 at the Tuesday US close but was above a level of 157.7442 at the same time Tuesday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for Friday, when no change is interest rates is expected.

USD/CAD fell to 1.3818 from 1.3833 at the Tuesday US close and 1.3824 at the same time Tuesday morning. Canadian industrial product and raw materials price data for December are due to be released at 8:30 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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