07:43 AM EST, 02/25/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Tuesday ahead of a busy day of economic data releases and appearances by Federal Reserve officials.

Tuesday starts with the Philadelphia Federal Reserve's nonmanufacturing reading for February at 8:30 am ET, followed by weekly Redbook same-store sales data at 8:55 am ET.

Home prices data for December are due to be released at 9:00 am ET. The Richmond Fed is due to release its business conditions readings for February at 10:00 am ET, at the same time as the Conference Board's consumer confidence data for February. The Dallas Fed's nonmanufacturing reading for February is due at 10:30 am ET.

Fed Vice Chair for Supervision Michael Barr is due to speak at 11:45 am ET, followed by speech by Richmond Fed President Tom Barkin at 1:00 pm ET.

A quick summary of foreign exchange activity heading into Tuesday:

EUR/USD rose to 1.0496 from 1.0465 at the Monday US close and 1.0472 at the same time Monday morning. There are no Eurozone data on Tuesday's schedule, but European Central Bank policy board member Isabel Schnabel is due to speak at 8:00 am ET. The next European Central Bank meeting is scheduled for March 5-6.

GBP/USD rose to 1.2655 from 1.2622 at the Monday US close and 1.2642 at the same time Monday morning. UK car registrations declined in January while the outlook for the UK retail sector remained sharply pessimistic in February, according to data released earlier Tuesday. Bank of England policy board member Huw Pill is scheduled to speak at 9:00 am ET. The next Bank of England meeting is scheduled for March 20.

USD/JPY fell to 149.6282 from 149.7135 at the Monday US close but was above a level of 149.3829 at the same time Monday morning. Japanese corporate services price growth accelerated in January while Japanese wage growth slowed in December, according to data released overnight. The next Bank of Japan meeting is scheduled for March 18-19.

USD/CAD fell to 1.4251 from 1.4266 at the Monday US close but was above a level of 1.4210 at the same time Monday morning. Canadian manufacturing sales data for January are set to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for March 12.