07:46 AM EDT, 06/04/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Tuesday, except for a decline versus the yen, ahead of a string of economic data releases.

Weekly Redbook same store sales are scheduled to be released at 8:55 am ET, followed by factory orders data for April, consumer sentiment data for May and job openings and hiring data for April, all at 10:00 am ET.

The 'quiet period' for the Federal Open Market Committee continues through the June 11-12 meeting.

A quick summary of foreign exchange activity heading into Tuesday:

EUR-USD fell to 1.0864 from 1.0901 at the Monday US close but was up from a level of 1.0837 at the same time Monday morning. There are no Eurozone data releases on Tuesday's schedule. The next European Central Bank meeting is scheduled for Thursday, when a 25 basis point reduction in the target rate is expected.

GBP-USD fell to 1.2750 from 1.2800 at the Monday US close but was up from 1.2721 at the same time Monday morning. There are no UK data releases on Tuesday's schedule. The next Bank of England meeting is scheduled for June 20.

USD-JPY fell to 155.1917 from 156.2409 at the Monday US close and 156.7273 at the same time Monday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for June 13-14.

USD-CAD rose to 1.3689 from 1.3638 at the Monday US close and 1.3650 at the same time Monday morning. There are no Canadian data releases on Tuesday's schedule. The next Bank of Canada meeting is set for Wednesday. A 25 basis point rate reduction is expected.