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US Dollar Rises Early Monday; Focus on Government Shutdown, FOMC Minutes This Week
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US Dollar Rises Early Monday; Focus on Government Shutdown, FOMC Minutes This Week
Oct 6, 2025 5:03 AM

07:53 AM EDT, 10/06/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Monday to begin a relatively quiet week of economic data releases, with a focus on the minutes of the Sept. 16-17 Federal Open Market Committee meeting being released Wednesday.

The US government shutdown continues to impact the scheduling of government-produced data releases. Another vote is expected Monday.

There are no data releases scheduled on Monday. Kansas City Federal Reserve President Jeffery Schmid is due to speak at 5:00 pm ET.

Tuesday's highlights include weekly Redbook same-store sales, consumer sentiment for October from RealClearMarkets and the New York Federal Reserve's inflation expectations report for September.

Prior to the release of the FOMC minutes, weekly mortgage applications and oil stocks data will be released Wednesday morning.

Thursday's highlights include weekly jobless claims and wholesale inventories data for August, though both could be delayed if the government shutdown continues. Fed Chairman Jerome Powell is due to make opening remarks at a bank conference Thursday morning.

The preliminary University of Michigan consumer sentiment reading for October is due to be released Friday, followed by the US Treasury's budget deficit for September assuming that the government is open.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD fell to 1.1663 from 1.1741 at the Friday US close and 1.1736 at the same time Friday morning. Eurozone retail sales partially rebounded in August after a decline in the previous month, while its construction purchasing managers' index remained below the breakeven point in September and investor confidence was still pessimistic in October, data released earlier Monday showed. European Central Bank President Christine Lagarde is due to speak at 1:00 pm ET. The next European Central Bank meeting is scheduled for Oct. 30.

GBP/USD fell to 1.3423 from 1.3482 at the Friday US close and 1.3449 at the same time Friday morning. UK car registrations surged in September while UK construction PMI remained below the breakeven point in the same month, data released earlier Monday showed. Bank of England Governor Andrew Bailey is due to speak at 1:30 pm ET. The next Bank of England meeting is scheduled for Nov. 6.

USD/JPY rose to 150.3551 from 147.4362 at the Friday US close and 147.3432 at the same time Friday morning, lifted by news that the next Japanese prime minster will be Sanae Takaichi, the first female prime minister for the country and a conservative. There was no Japanese data released overnight. The next Bank of Japan meeting is scheduled for Oct. 29.

USD/CAD rose to 1.3958 from 1.3951 at the Friday US close but was below a level of 1.3964 at the same time Friday morning. There are no Canadian data on Monday's schedule. The next Bank of Canada meeting is scheduled for Oct. 29.

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