08:00 AM EDT, 06/23/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Monday, with testimony by Federal Reserve Chairman Jerome Powell, home sales data, the final estimate of Q1 gross domestic product and personal income, sales and price data for May the focus for this week after the military action taken by the US against Iranian nuclear facilities Saturday.

On Monday, S&P Global flash manufacturing and services data for June are due to be released at 9:45 am ET, followed by existing home sales data for May and an appearance by Fed Vice Chair for Supervision Michelle Bowman, both at 10:00 am ET.

Chicago Fed President Austan Goolsbee is scheduled to speak at 1:10 pm ET, followed by Federal Reserve Governor Adriana Kugler and New York Fed Governor John Williams at a Fed Listens event at 2:30 pm ET.

Tuesday's highlights include the first day of Powell's testimony, current account data for Q1, nonmanufacturing data for June from the Philadelphia Federal Reserve bank, conditions data from the Richmond Fed and consumer confidence data for June.

Powell's second day of testimony, new home sales data for May and weekly mortgage applications and oil stocks inventory data are due Wednesday.

GDP data for Q1, weekly jobless claims, durable goods orders, advance trade data and pending home sales data for May are the highlights Thursday.

Personal income, spending and price data for May and the final University of Michigan consumer sentiment reading for June are due to be released Friday.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD fell to 1.1470 from 1.1520 at the Friday US close and 1.1515 at the same time Friday morning. The Eurozone manufacturing purchasing managers' index held steady just below the breakeven point in June while services PMI indicated no change activity in the sector, according to preliminary data released earlier Monday. European Central Bank President Christine Lagarde is due to speak at 9:00 am ET. The next European Central Bank meeting is scheduled for July 24.

GBP/USD fell to 1.3378 from 1.3449 at the Friday US close and 1.3491 at the same time Friday morning. UK manufacturing PMI rose in June, but still indicated contraction, while services PMI indicated faster expansion, according to preliminary data released earlier Monday. The next Bank of England meeting is scheduled for Aug. 7.

USD/JPY rose to 147.8561 from 146.1292 at the Friday US close and 145.6061 at the same time Friday morning. Japanese manufacturing PMI rose back above the breakeven point in June while services PMI moved further into expansionary territory in the month, preliminary data released overnight showed. The next Bank of Japan meeting is scheduled for July 30-31.

USD/CAD rose to 1.3790 from 1.3740 at the Friday US close and 1.3710 at the same time Friday morning. There are no Canadian data on Monday's schedule. The next Bank of Canada meeting is scheduled for July 30.