financetom
Economy
financetom
/
Economy
/
US Dollar Rises Early Tuesday Ahead of Philadelphia Fed Nonmanufacturing, Productivity
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US Dollar Rises Early Tuesday Ahead of Philadelphia Fed Nonmanufacturing, Productivity
Mar 24, 2026 4:52 AM

07:37 AM EDT, 03/24/2026 (MT Newswires) -- The US dollar rose against its major trading partners early Tuesday ahead of the release of the Philadelphia Federal Reserve's non-manufacturing index for March and revised Q4 productivity data, both at 8:30 am ET.

Weekly Redbook same-store sales are due to be released at 8:55 am ET, followed by S&P Global's flash estimates of manufacturing and services conditions for March at 9:45 am ET and the Richmond Fed's manufacturing and services reading for March at 10:00 am ET.

Fed Governor Michael Barr is scheduled to speak at 6:30 pm ET.

A quick summary of foreign exchange activity heading into Tuesday:

EUR/USD fell to 1.1599 from 1.1615 at the Monday US close but was above a level of 1.1577 at the same time Monday morning. Eurozone manufacturing PMI rose further above the 50.0 breakeven point in March while the services PMI declined but still indicated modest expansion, according to preliminary data released earlier Tuesday. European Central Bank policy board member Philip Lane is due to speak at 11:45 am ET. The next European Central Bank meeting is scheduled for April 30.

GBP/USD fell to 1.3411 from 1.3433 at the Monday US close, but was above a level of 1.3402 at the same time Monday morning. UK manufacturing and services PMI both declined in March, indicating more modest expansion. UK car registrations declined sharply in February, but the year-over-year change remained positive, according to data released earlier Tuesday. Bank of England policy board member Huw Pill is due to speak at 9:25 am ET. The next Bank of England meeting is scheduled for April 30.

USD/JPY rose to 158.6891 from 158.3929 at the Monday US close and 158.6037 at the same time Monday morning. Japanese manufacturing and services PMI moved lower in March, but remained above their breakeven point, while Japanese CPI declined in February, slowing the year-over-year growth rates, according to data released overnight. The next Bank of Japan meeting is scheduled for April 27-28.

USD/CAD rose to 1.3737 from 1.3722 at the Monday US close and 1.3718 at the same time Monday morning. Canadian manufacturing sales data for February are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for April 29.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Biden’s Budget proposes to trim federal deficits, boost taxes on wealthiest Americans
Biden’s Budget proposes to trim federal deficits, boost taxes on wealthiest Americans
Mar 30, 2022
Biden and his aides touted his budget, unveiled Monday, as focusing on fiscal responsibility, security at home and overseas and investments in social programs to help families afford housing, child care, health care and other costs.
US job openings, quitting at near record high in February
US job openings, quitting at near record high in February
Mar 29, 2022
US job data: There were 11.3 million available jobs last month, matching January's figure and just below December's record of 11.4 million, the Labor Department said Tuesday. The number of Americans quitting their jobs was also historically high, at 4.4 million, up from 4.3 million in January.
Explained: Why Bank of Japan is keeping rates low despite a stumbling yen
Explained: Why Bank of Japan is keeping rates low despite a stumbling yen
Mar 30, 2022
Bank of Japan has bucked the global trend for a tighter monetary policy and maintained an ultra-loose stance. But BOJ is finding it difficult to keep control of key bond yields, stoking speculation that governor Haruhiko Kuroda may prop up the currency for the first time since 1998. A weaker yen has positive effects on the Japanese economy by pushing up the overall economy and prices, Bank of Japan governor Haruhiko Kuroda said.
Ukraine conflict: War threatens food security in Russia and beyond
Ukraine conflict: War threatens food security in Russia and beyond
Mar 30, 2022
Russia had already started its sowing campaign in the south before the war. In 2021 it planted 80.4 million hectares, and it intended to plant 81.3 million hectares in 2022, 29.5 million of which would be occupied by wheat. After the invasion of Ukraine, the Russian government allocated 25 billion roubles in subsidised credit to facilitate a successful sowing season, in addition to an original 28 billion roubles in short-term credit.
Copyright 2023-2026 - www.financetom.com All Rights Reserved