07:51 AM EDT, 07/30/2025 (MT Newswires) -- The US dollar was mixed against its major trading partners early Wednesday -- up versus the euro and Canadian dollar, down versus the pound and yen -- ahead of another busy data of economic data releases and the conclusion of the policy setting Federal Open Market Committee's two-day meeting.

ADP private payrolls data for July are due to be released at 8:15 am ET, followed by the first look at Q2 GDP at 8:30 am ET, at the same time as the Treasury's quarterly refunding report.

Pending home sales data for June are due to be released at 10:00 am ET and weekly petroleum stocks inventory data are due at 10:30 am ET.

The FOMC's rate decision is due at the conclusion of its meeting at 2:00 pm ET, followed by a press conference with Federal Reserve Chairman Jerome Powell at 2:30 pm ET. The CME's FedWatch tool currently shows a 97.9% chance being priced for no change in the current 4.25% to 4.50% target range for the federal funds rate and a 2.1% chance of a 25 basis point rate reduction to a range of 4.00% to 4.25%.

Earlier Wednesday, the Mortgage Bankers Association reported mortgage applications declined in the week ended July 25 despite a small downtick in 30-year fixed mortgage rates.

A quick summary of foreign exchange activity heading into Wednesday:

EUR/USD fell to 1.1538 from 1.1551 at the Tuesday US close and 1.1578 at the same time Tuesday morning. Eurozone GDP growth slowed in Q2 from the previous quarter while consumer confidence improved modestly in July but remained negative, according to data released earlier Wednesday. The next European Central Bank meeting is scheduled for Sept. 11.

GBP/USD rose to 1.3364 from 1.3358 at the Tuesday US close and 1.3352 at the same time Tuesday morning. There are no UK data on Wednesday's calendar. The next Bank of England meeting is scheduled for Aug. 7.

USD/JPY fell to 148.1501 from 148.5017 at the Tuesday US close and 148.5819 at the same time Tuesday morning. There were no Japanese data released overnight. The Bank of Japan's monetary policy decision is expected to be announced at 10:30 pm ET Wednesday evening. No change in rates is expected.

USD/CAD rose to 1.3789 from 1.3776 at the Tuesday US close and 1.3759 at the same time Tuesday morning. The Bank of Canada's policy decision is expected to be released at 9:45 am ET, when no change in rates is expected. There are no Canadian data on Wednesday's schedule.