07:40 AM EDT, 08/19/2024 (MT Newswires) -- The US dollar declined against its major trading partners early Monday as attention this week turns to home sales data and comments from Federal Reserve officials.

The week starts Monday with an appearance by Federal Reserve Governor Christopher Waller at 9:15 am ET and leading indicators data for July at 10:00 am ET. Tuesday's highlights include the Philadelphia Fed's nonmanufacturing reading for August and weekly Redbook same-store sales.

Weekly data on mortgage applications and oil stocks precede the release of minutes from the July 30-31 Federal Open Market Committee meeting Wednesday. Analysts and market participants will look for signs that the FOMC began to discuss the process of rate reductions even before the July employment and inflation data.

Further Fed comments will come from the annual Jackson Hole conference which begins Thursday, with Fed Chair Jerome Powell's much-anticipated keynote address scheduled for 10:00 am ET Friday. Fed leaders have typically used these addresses to signal changes to monetary policy.

Thursday's data highlights include weekly jobless claims, and flash estimates from S&P Global for August and July existing home sales. New home sales for July follow Friday.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD rose to 1.1036 from 1.1024 at the Friday US close and 1.0992 at the same time Friday morning. There are no Eurozone data on Monday's schedule. The next European Central Bank meeting is scheduled for Sept. 12.

GBP/USD rose to 1.2949 from 1.2945 at the Friday US close and 1.2908 at the same time Friday morning. UK home prices fell sharply in August but were still up from a year ago, according to data released overnight. The next Bank of England meeting is scheduled for Sept. 19.

USD/JPY fell to 146.3531 from 147.5702 at the Friday US close and 148.1519 at the same time Friday morning. Japanese core machinery orders rose more than expected in June, but were down from a year earlier, according to data released overnight. The next Bank of Japan meeting is scheduled for Sept. 19-20.

USD/CAD fell to 1.3682 from 1.3685 at the Friday US close and 1.3730 at the same time Friday morning. There are no Canadian data on Monday's schedule. The next Bank of Canada meeting is scheduled for Sept. 4.