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US Dollar Rises Early Monday, Focus on Friday's September CPI Report During Fed Quiet Period
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US Dollar Rises Early Monday, Focus on Friday's September CPI Report During Fed Quiet Period
Oct 20, 2025 5:26 AM

07:46 AM EDT, 10/20/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Monday as the US data schedule continues to be impacted by the ongoing government shutdown.

With Federal Open Market Committee participants in their 'quiet period' ahead of the Oct. 28-29 rate policy setting meeting, the focus this week will be on Friday's rescheduled September consumer price index report. The report was originally set to be released on Oct. 15 and was postponed due to the shutdown until it was decided to resume work on it for the purposes of Social Security cost-of-living calculations.

Leading indicators data for September were set to be released at 10:00 am ET Monday but will likely be delayed due to a lack of component data.

Tuesday's highlights include the Philadelphia Federal Reserve's nonmanufacturing reading for October and weekly Redbook same-store sales. State unemployment data for September will not be released.

Wednesday's highlights are weekly mortgage applications and crude oil stocks inventory data.

Thursday's schedule will be busy, with the existing home sales data for September the main release, along with the Kansas City Fed's manufacturing reading for October. Weekly jobless claims continue to be delayed due to the shutdown.

In addition to the September CPI, Friday's schedule will include S&P Global's flash estimates of manufacturing and services conditions for October and the final University of Michigan consumer sentiment reading for October. New home sales data for September will not be released.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD fell to 1.1653 from 1.1669 at the Friday US close and 1.1685 at the same time Friday morning. The Eurozone current account surplus narrowed in August while Eurozone construction output declined in the same month, according to data released earlier Monday. European Central Bank policy board member Isabel Schnabel is due to speak at 10:00 am ET. The next European Central Bank meeting is scheduled for Oct. 30.

GBP/USD fell to 1.3411 from 1.3430 at the Friday US close and 1.3432 at the same time Friday morning. There are no UK data on Monday's schedule. The next Bank of England meeting is scheduled for Nov. 6.

USD/JPY rose to 150.7612 from 150.5282 at the Friday US close and 150.2531 at the same time Friday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for Oct. 29.

USD/CAD rose to 1.4032 from 1.4011 at the Friday US close but was below a level of 1.4035 at the same time Friday morning. Canadian industrial product and raw materials price data for September are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for Oct. 29.

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