07:42 AM EDT, 05/12/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Monday as the focus turns to inflation and retail sales data for April as well as an appearance by Federal Reserve Chairman Jerome Powell.

Monday's schedule is light, with only a speech by Fed Governor Adriana Kugler at 10:25 am ET and the US Treasury's budget statement for April at 2:00 pm ET.

Tuesday's highlights will be the NFIB's small business sentiment reading for April and the Consumer Price Index for April, as well as weekly Redbook same-store sales.

Wednesday's schedule will be light, with weekly mortgage applications and petroleum stocks readings, leading into Thursday's busy schedule that will include jobless claims, and April data for retail sales, producer prices and industrial production and an appearance by Powell on the topic of the Fed's monetary policy framework review.

Home building data and import and export price data, all for April are due to be released on Friday, followed by the preliminary University of Michigan consumer sentiment reading for May.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD fell to 1.1084 from 1.1252 at the Friday US close and 1.1254 at the same time Friday morning. There are no Eurozone data on Monday's schedule. The next European Central Bank meeting is scheduled for June 4-5.

GBP/USD fell to 1.3152 from 1.3307 at the Friday US close and 1.3277 at the same time Friday morning. Bank of England policy board member Catherine Mann is due to speak at 8:50 am ET and UK same-store sales data are scheduled to be released at 7:01 pm ET this evening. The next Bank of England meeting is scheduled for June 19.

USD/JPY rose to 148.1501 from 145.3252 at the Friday US close and 145.1101 at the same time Friday morning. The Japanese current account surplus narrowed in March while Japanese services business sentiment decline in April, according to data released overnight. The next Bank of Japan meeting is scheduled for June 16-17.

USD/CAD rose to 1.3981 from 1.3919 at the Friday US close and 1.3890 at the same time Friday morning. There are no Canadian data on Monday's schedule. The next Bank of Canada meeting is scheduled for June 4.