08:00 AM EDT, 03/17/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Monday ahead of a busy week that starts off fast on Monday.

Retail sales data for February and the New York Fed's Empire State index are both due to be released at 8:30 am ET, followed by the National Association of Home Builders' builder sentiment index for March, business inventories for January and state unemployment data for January, all at 10:00 am ET. The Atlanta Fed is expected to update its gross domestic product Nowcast estimate for Q1 around midday.

Tuesday's highlights include home building data and import and export prices, weekly Redbook same-store sales and industrial production.

The Federal Open Market Committee's rate decision is the main event of the week Wednesday, while weekly mortgage applications and oil stocks data start the day.

Weekly jobless claims, the Philadelphia Fed's manufacturing reading and existing-home sales data are due Thursday.

The week ends on a light note Friday with only an update to the St. Louis Fed's GDP nowcast estimate.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD rose to 1.0907 from 1.0883 at the Friday US close and 1.0898 at the same time Friday morning. There are no Eurozone data on Monday's schedule, but European Central Bank policy board member Christine Lagarde is due to speak at 10:00 am ET. The next European Central Bank meeting is scheduled for April 16-17.

GBP/USD rose to 1.2971 from 1.2932 at the Friday US close and 1.2940 at the same time Friday morning. There are no UK data on Monday's schedule. The next Bank of England meeting is scheduled for Thursday, when no change in rates is expected.

USD/JPY fell to 148.5361 from 148.6113 at the Friday US close and 148.7792 at the same time Friday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for Tuesday and Wednesday Japanese time this week, with no change in the policy rate expected when the post-meeting statement is released late Tuesday evening US time.

USD/CAD fell to 1.4351 from 1.4361 at the Friday US close and 1.4435 at the same time Friday morning. Canadian housing starts data for February are due to be released at 8:15 am ET, followed by Canadian foreign securities purchases data at 8:30 am ET. The next Bank of Canada meeting is scheduled for April 16.