07:51 AM EDT, 05/20/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Monday as markets turn their attention to home sales data this week and the minutes of the April 30-May 1 Federal Open Market Committee meeting.

There are no economic data releases scheduled for Monday, but Federal Reserve Vice Chair for Supervision Michael Barr is set to speak at 9:00 am ET at the same time as Fed Governor Christopher Waller. Fed Vice Chair Philip Jefferson follows at 10:30 am ET and Cleveland Fed President Loretta Mester is due to speak at 2:00 pm ET.

Tuesday's schedule will be light with only the Philadelphia Fed's nonmanufacturing report for May and weekly Redbook same store sales set for release.

Activity picks up Wednesday, highlighted by existing home sales data for April and the FOMC minutes. Thursday's schedule will be busy, highlighted by weekly jobless claims, flash estimates from manufacturing and service services for May, new home sales for April and the Kansas City Fed's manufacturing reading for May.

Highlights on Friday include durable goods data for April, the final University of Michigan consumer sentiment reading for April and the Kansas City Fed's services reading for May.

A quick summary of foreign exchange activity heading into Monday:

EUR-USD fell to 1.0866 from 1.0872 at the Friday US close but was above a level of 1.0840 at the same time Friday morning. There are no Eurozone data on Monday's calendar. The next European Central Bank meeting is scheduled for June 6.

GBP-USD fell to 1.2696 from 1.2705 at the Friday US close but was above a level of 1.2650 at the same time Friday morning. UK home asking prices rose less than expected in May, data released earlier Monday showed. The next Bank of England meeting is scheduled for June 20.

USD-JPY rose to 155.7371 from 155.6890 at the Friday US close but was below a level of 155.8761 at the same time Friday morning. Japanese services activity fell sharply in March, data released overnight showed. The next Bank of Japan meeting is scheduled for June 13-14.

USD-CAD rose to 1.3619 from 1.3611 at the Friday US close but was below a level of 1.3637 at the same time Friday morning. Monday is a holiday in Canada, so there are no data releases on the schedule. The next Bank of Canada meeting is scheduled for June 5.