07:55 AM EST, 12/02/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Monday after a long holiday weekend for many, starting the week with S&P Global's manufacturing reading for November at 9:45 am ET.

The Institute for Supply Management's manufacturing reading for November and construction spending data for October are both due for release at 10:00 am ET. The Atlanta Federal Reserve is expected to update its gross domestic product growth Nowcast around midday. Fed Governor Christopher Waller is due to speak at 3:15 pm ET, followed by New York Fed President John Williams at 4:30 pm ET.

Highlights Tuesday include weekly Redbook retail sales, consumer sentiment and job openings and hiring.

Wednesday's schedule includes ADP private payrolls, services conditions data and the Fed's Beige Book report, but the main event will be a discussion with Federal Reserve Chairman Jerome Powell.

Thursday's highlights include Challenger layoffs, weekly jobless claims, international trade data and natural gas stocks.

The November employment report is the highlight for Friday, followed by the preliminary University of Michigan consumer sentiment report for December.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD fell to 1.0518 from 1.0579 at the Friday US close and 1.0560 at the same time Friday morning. The Eurozone's manufacturing purchasing managers' index declined further below its breakeven point in November while the unemployment rate held steady in October, data released earlier Monday showed. The next European Central Bank meeting is scheduled for Dec. 12.

GBP/USD fell to 1.2707 from 1.2740 at the Friday US close but was above a level of 1.2687 at the same time Friday morning. UK home prices rose more than expected in November while the UK manufacturing PMI declined further into contraction in the same month, according to data released earlier Monday. The next Bank of England meeting is scheduled for Dec. 19.

USD/JPY rose to 150.1291 from 149.6262 at the Friday US close and 150.1131 at the same time Friday morning. Japanese manufacturing PMI fell slightly in November, remaining below the breakeven point, according to data released overnight. The next Bank of Japan meeting is scheduled for Dec. 18-19.

USD/CAD rose to 1.4040 from 1.4003 at the Friday US close and 1.4019 at the same time Friday morning. Canadian manufacturing PMI for November is due to be released at 9:30 am ET. The next Bank of Canada meeting is scheduled for Dec. 11.