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US Dollar Rises Early Monday; Focus on Inflation, Retail Sales, Home Building This Week
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US Dollar Rises Early Monday; Focus on Inflation, Retail Sales, Home Building This Week
Jan 13, 2025 5:10 AM

07:54 AM EST, 01/13/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Monday, except for a decline versus the yen, as attention turns to a string of major data releases this week.

Monday's schedule starts with the New York Federal Reserve's inflation expectations report for December at 11:00 am ET, followed by the US Treasury's monthly budget balance estimate for December at 2:00 pm ET.

Tuesday's highlights include the National Federation of Independent Business' small business sentiment survey, and producer price data.

The Consumer Price Index is the main event Wednesday, along with the first look at January manufacturing conditions.

Thursday's extremely busy data schedule includes retail sales, import and export prices and the National Association of Home Builders' home builders' index.

The week ends with home building data and industrial production Friday, leading into the three-day US holiday weekend.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD fell to 1.0193 from 1.0248 at the Friday US close and 1.0306 at the same time Friday morning. There are no Eurozone data on Monday's schedule. The next European Central Bank meeting is scheduled for Jan. 30.

GBP/USD fell to 1.2105 from 1.2212 at the Friday US close and 1.2310 at the same time Friday morning. There are no UK data on Friday's schedule. The next Bank of England meeting is scheduled for Feb. 6.

USD/JPY fell to 157.3551 from 157.7081 at the Friday US close and 157.9591 at the same time Friday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for Jan. 23-24.

USD/CAD rose to 1.4430 from 1.4427 at the Friday US close and 1.4406 at the same time Friday morning. There are no Canadian data on Monday's schedule. The next Bank of Canada meeting is scheduled for Jan. 29.

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