07:23 AM EDT, 04/01/2026 (MT Newswires) -- The US dollar fell against its major trading partners early Wednesday before another busy session, starting with ADP private payrolls for March at 8:15 am ET and retail sales data for February at 8:30 am ET.

St. Louis Federal Reserve President Alberto Musalem is due to speak at 9:00 am ET, followed by Fed Governor Michael Barr at 9:10 am ET.

The S&P Global manufacturing reading for March is due to be released at 9:45 am ET, with ISM scheduled to release its manufacturing reading for March at 10:00 am ET, the same time as the January business inventories data.

Weekly energy stocks data are expected to be released at 10:30 am ET, and the Atlanta Fed is due to publish an update to its GDP nowcast estimate for Q1 around midday.

Earlier Wednesday, the Mortgage Bankers Association said that mortgage applications declined further in the week ended March 27 due to another gain in mortgage rates.

A quick summary of foreign exchange activity heading into Wednesday:

EUR/USD rose to 1.1597 from 1.1559 at the Tuesday US close and 1.1461 at the same time Tuesday morning. Eurozone manufacturing PMI rose in March while the unemployment rate ticked up in February, according to data released earlier Wednesday. The next European Central Bank meeting is scheduled for April 30.

GBP/USD rose to 1.3303 from 1.3236 at the Tuesday US close and 1.3199 at the same time Tuesday morning. UK manufacturing PMI declined in March but still indicated modest expansion, according to data released overnight. The next Bank of England meeting is scheduled for April 30.

USD/JPY fell to 158.5284 from 158.7109 at the Tuesday US close and 159.7453 at the same time Tuesday morning. Japanese manufacturing PMI rose modestly in March while the Tankan large manufacturers index improved in Q1, according to data released overnight. The next Bank of Japan meeting is scheduled for April 27-28.

USD/CAD fell to 1.3894 from 1.3912 at the Tuesday US close and 1.3944 at the same time Tuesday morning. Canadian manufacturing PMI data for March are due to be released at 9:30 am ET. The next Bank of Canada meeting is scheduled for April 29.