07:50 AM EDT, 04/27/2026 (MT Newswires) -- The US dollar fell against its major trading partners early Monday, with the focus this week on the Federal Open Market Committee's policy meeting, the first look at Q1 GDP, and March data on personal income, spending, and prices.

Monday's schedule is light, with only the Dallas Federal Reserve's manufacturing index for April to be released.

Consumer confidence data for April and regional manufacturing and services data are the highlights of Tuesday's busy schedule.

The FOMC meeting is the key event on Wednesday, with a 100% chance of no change to the current 3.50% to 3.75% target range, according to the CME's Fed Watch tool. Before the meeting statement, data on durable goods orders, housing starts, and advance trade, all for March, are due to be released.

Thursday's highlights include the first look at Q1 GDP, the employment cost index for Q1, personal income, spending, and price data for March, and weekly jobless claims.

Manufacturing data for April from S&P Global and ISM is due to be released on Friday.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD rose to 1.1741 from 1.1720 at the Friday US close and 1.1718 at the same time Friday morning. There are no Eurozone data on Monday's schedule, but European Central Bank policy board member Isabel Schnabel is due to speak at 1:30 pm ET. The next European Central Bank meeting is scheduled for Thursday, when no change in the target rate is expected.

GBP/USD rose to 1.3556 from 1.3533 at the Friday US close and 1.3497 at the same time Friday morning. UK retail sector conditions deteriorated further in April, according to CBI data. The next Bank of England meeting is scheduled for Thursday, when no change in the target rate is expected.

USD/JPY fell to 159.1431 from 159.3982 at the Friday US close and 159.4161 at the same time Friday morning. The Japanese leading index rose more than expected in February while the coincident index declined, according to data released overnight. The Bank of Japan's policy statement is due to be released after 10:30 pm ET Monday evening. No change in the policy rate is expected.

USD/CAD fell to 1.3612 from 1.3667 at the Friday US close and 1.3680 at the same time Friday morning. There are no Canadian data on Monday's schedule. The next Bank of Canada meeting is scheduled for Wednesday, when no change in the target rate is expected.