07:36 AM EDT, 08/05/2026 (MT Newswires) -- The US dollar fell against its major trading partners early Wednesday ahead of a busy day of economic data, starting with ADP private payrolls data for July at 8:15 am ET and the US Treasury's refunding statement at 8:30 am ET.

S&P Global's services PMI report for July is due to be released at 9:45 am ET, followed by ISM's services reading for July at 10:00 am ET and weekly petroleum stocks data at 10:30 am ET.

Federal Reserve Governor Lisa Cook is due to speak at 4:05 pm ET.

Earlier Wednesday, the Mortgage Bankers Association reported that mortgage applications declined in the week ended July 31 due to a further increase in 30-year fixed mortgage rates.

A quick summary of foreign exchange activity heading into Wednesday:

EUR/USD rose to 1.1540 from 1.1531 at the Tuesday US close and 1.1517 at the same time Tuesday morning. Eurozone services PMI rose in July to now indicate expansion, while Eurozone producer prices declined in June, slowing the year-over-year rate, data released earlier Wednesday showed. The next European Central Bank meeting is scheduled for Sept. 10.

GBP/USD rose to 1.3471 from 1.3451 at the Tuesday US close and 1.3444 at the same time Tuesday morning. UK services PMI moved back above the breakeven point in July, and UK passenger car registrations slowed in July, according to data released earlier Wednesday. The next Bank of England meeting is scheduled for Sept. 17.

USD/JPY fell to 157.6117 from 157.7569 at the Tuesday US close and 157.8173 at the same time Tuesday morning. Japanese services PMI declined in July but remained above the breakeven point for growth, while Japanese wage income growth accelerated in June, according to data released overnight. The next Bank of Japan meeting is scheduled for Sept. 17-18.

USD/CAD fell to 1.4061 from 1.4066 at the Tuesday US close and 1.4047 at the same time Tuesday morning. There are no Canadian data on Wednesday's schedule. The next Bank of Canada meeting is scheduled for Sept. 2.