07:52 AM EST, 02/10/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Monday before a busy week that includes testimony from Federal Reserve Chairman Jerome Powell, and consumer price data and retail sales data for January later in the week.

Monday's schedule is light, with only the New York Federal Reserve's inflation report for January due to be released at 11:00 am ET.

Highlights Tuesday include the National Federation of Independent Business' small business sentiment survey and Redbook same-store sales, as well as the first day of testimony from Powell before the Senate Banking Committee.

Consumer price data and the Treasury's budget statement are due Wednesday, as well as the second day of testimony from Powell, this time before the House Financial Services Committee.

Producer price data and weekly jobless claims are scheduled to be released Thursday.

Friday's busy schedule includes retail sales, import and export prices and industrial production data before the long holiday weekend.

A quick summary of foreign exchange activity heading into Monday:

EUR/USD fell to 1.0313 from 1.0331 at the Friday US close and 1.0371 at the same time Friday morning. Eurozone investor confidence improved more than expected in February but still indicated more pessimism than optimism. European Central Bank President Christine Lagarde is due to speak at 9:00 am ET. The next European Central Bank meeting is scheduled for March 5-6.

GBP/USD fell to 1.2383 from 1.2411 at the Friday US close and 1.2447 at same time Friday morning. There are no UK data on Monday's schedule. The next Bank of England meeting is scheduled for March 20.

USD/JPY rose to 152.2301 from 151.3042 at Friday US close and 152.1442 at the same time Friday morning. Japanese service workers sentiment declined unexpectedly in January, according to data release overnight, while the Japanese current account surplus narrowed in December. The next Bank of Japan meeting is scheduled for March 18-19.

USD/CAD rose to 1.4342 from 1.4286 at the Friday US close, but was down slightly from a level of 1.4344 at the same time Friday morning. There are no Canadian data on Monday's schedule. The next Bank of Canada meeting is scheduled for March 12.