07:55 AM EDT, 10/28/2024 (MT Newswires) -- The US dollar fell against its major trading partners early Monday, except for a gain versus the yen, as markets prepare for an extremely busy data schedule that includes the first look at Q3 gross domestic product growth and the October employment report, while Federal Reserve officials are in their 'quiet period' ahead of the Nov. 6-7 Federal Open Market Committee meeting.

Monday's schedule is light, with the Dallas Fed's manufacturing index for October at 10:30 am ET and the Treasury's borrowing requirements at 3:00 pm ET.

The slate of data releases picks up Tuesday with highlights that include advance trade data, home prices, consumer confidence and job openings.

Wednesday's schedule includes ADP private payrolls, the first look at Q3 GDP data and the Treasury's quarterly refunding.

Challenger layoffs data, weekly jobless claims, personal income and spending data and the employment cost index are the highlights for Thursday.

The October employment report and manufacturing data from S&P Global and ISM finish off the week.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD rose to 1.0817 from 1.0797 at the Friday US close but was below a level of 1.0825 at the same time Friday morning. There are no Eurozone data on Monday's schedule, but European Central Bank Vice President Luis de Guindos is due to speak at 3:45 pm ET. The next European Central Bank meeting is scheduled for Dec. 12.

GBP/USD rose to 1.2978 from 1.2962 at the Friday US close but was below a level of 1.2986 at the same time Friday morning. UK retail sector conditions deteriorated in October according to data released earlier Monday. The next Bank of England meeting is scheduled for Nov. 7.

USD/JPY rose to 152.6271 from 152.1923 at the Friday US close and 151.9081 at the same time Friday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for Wednesday and Thursday this week, with the post-meeting statement expected late Wednesday evening in US time. No change in rates is expected at the meeting.

USD/CAD fell slightly to 1.3892 from 1.3895 at the Friday US close but was above a level of 1.3846 at the same time Friday morning. Canadian wholesale sales data for September are due to be released at 8:30 am ET, followed by an appearance by Bank of Canada Governor Tiff Macklem at 1:30 pm ET. The next Bank of Canada meeting is scheduled for Dec. 11.