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US Dollar Falls Early Tuesday Ahead of Trade, Redbook, Existing Home Sales, Wholesale Data

BY MT Newswires | ECONOMIC | 07:24 AM EDT

07:24 AM EDT, 06/09/2026 (MT Newswires) -- The US dollar fell against its major trading partners early Tuesday ahead of a busy day of economic data releases, starting with international trade data for April at 8:30 am ET.

Weekly Redbook same-store sales are set to be released at 8:55 am ET, followed by existing home sales data for May and wholesale inventory data for April, both at 10:00 am ET.

The Atlanta Federal Reserve's GDP nowcast estimate for Q2 is due to be updated around midday.

Earlier Tuesday, the National Federation of Independent Business reported that small business confidence declined in May and is well below its year-ago level due to inflation concerns.

A quick summary of foreign exchange activity heading into Tuesday:

EUR/USD rose to 1.1568 from 1.1531 at the Monday US close and 1.1525 at the same time Monday morning. There are no Eurozone data on Tuesday's schedule, but European Central Bank President Christine Lagarde is due to speak at 12:30 pm ET. The next European Central Bank meeting is scheduled for Thursday, when a 25-basis point rate increase is expected.

GBP/USD rose to 1.3398 from 1.3341 at the Monday US close and 1.3342 at the same time Monday morning. There are no UK data on Tuesday's schedule. The next Bank of England meeting is scheduled for June 18.

USD/JPY fell to 160.1503 from 160.2187 at the Monday US close, but was above a level of 160.0073 at the same time Monday morning. The Japanese money supply increased in May, while year-over-year growth in Japanese machine tool orders slowed in May, according to data released overnight. The next Bank of Japan meeting is scheduled for June 15-16.

USD/CAD fell to 1.3931 from 1.3951 at the Monday US close and 1.3943 at the same time Monday morning. The Canadian trade balance for April is due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for Wednesday, when no change in the policy rate is expected.

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

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