07:44 AM EDT, 05/06/2024 (MT Newswires) -- The US dollar fell against its major trading partners early Monday, except for a small improvement against the yen, ahead of a relatively quiet week of economic data after a brisk schedule last week.

There are no economic data on Monday's schedule, but Richmond Fed President Tom Barkin is due to speak at 12:50 pm ET, followed by New York Fed President John Williams at 1:00 pm ET. They both vote on the interest rate policy setting Federal Open Market Committee in 2024.

Tuesday's highlights include weekly Redbook same store sales and the RealClearMarkets/TIPP consumer sentiment reading.

Wholesale inventories data and weekly mortgage applications and petroleum stocks data are due Wednesday, followed by weekly jobless claims and natural gas stocks Thursday and the preliminary University of Michigan consumer sentiment reading for May on Friday.

A quick summary of foreign exchange activity heading into Monday:

EUR-USD rose to 1.0769 from 1.0767 at the Friday US close and 1.0748 at the same time Friday morning. The Eurozone services purchasing managers' index rose in April to indicate faster expansion while producer prices declined in March at a slower rate than in the previous month and investor confidence improved modestly in May, data released overnight showed. The next European Central Bank meeting is scheduled for June 6.

GBP-USD rose to 1.2575 from 1.2551 at the Friday US close and 1.2559 at the same time Friday morning. Monday is a holiday in the UK, so no data are being released. The next Bank of England meeting is scheduled for Thursday when no change in interest rates is expected.

USD-JPY rose to 153.7591 from 152.8501 at the Friday US close and 153.1892 at the same time Friday morning. Monday is a holiday in Japan, so no data were released overnight. The next Bank of Japan meeting is scheduled for June 13-14.

USD-CAD fell to 1.3671 from 1.3681 at the Friday US close but was up from a level of 1.3664 at the same time Friday morning. Canada average hourly earnings data for April are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for June 5.