07:57 AM EDT, 05/28/2024 (MT Newswires) -- The US dollar fell against its major trading partners early Tuesday after the long holiday week and before a busy week of key economic data releases.

The week starts Tuesday with home price data for March at 9:00 am ET, consumer confidence data for May at 10:00 am ET and the Dallas Federal Reserve Bank's manufacturing reading for May at 10:30 am ET. Minneapolis Fed President Neel Kashkari is set to speak at 9:55 am ET, followed by Fed Governor Lisa Cook at 1:05 pm ET.

Wednesday' highlights include weekly Redbook same-store sales, the Richmond Fed's conditions readings, the Dallas Fed's nonmanufacturing index and the Fed's Beige Book report.

The second estimate of Q1 GDP is due to be released Thursday along with weekly jobless claims, advance trade, pending home sales and weekly energy stocks data.

Friday's highlights include personal income, spending, and price data and the Chicago PMI.

A quick summary of foreign exchange activity heading into Tuesday:

EUR-USD rose to 1.0884 from 1.0860 at the Monday US close and 1.0863 at the same time Monday morning. There are no Eurozone-level data on Tuesday's calendar. The next European Central Bank meeting is scheduled for June 6.

GBP-USD rose to 1.2787 from 1.2771 at the Monday US close and 1.2754 at the same time Monday morning. There are no UK data on Tuesday's calendar. The next Bank of England meeting is scheduled for June 20.

USD-JPY fell to 156.8092 from 156.8819 at the Monday US close and 156.8358 at the same time Monday morning. The Bank of Japan's core CPI reading slowed to a 1.8% year-over-year rate in April from 2.2% in March, below expectations. The next Bank of Japan meeting is scheduled for June 13-14.

USD-CAD fell to 1.3619 from 1.3632 at the Monday US close and 1.3654 at the same time Monday morning. Canadian industrial product and raw materials prices data for April are set to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for June 5.