07:37 AM EST, 01/08/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Wednesday before a busy data schedule, starting with ADP private payrolls data for December at 8:15 am ET.

Weekly jobless claims data follow at 8:30 am ET, moved from Thursday due to the National Day of Mourning. Federal Reserve Governor Christopher Waller is expected to speak at the same time.

Wholesale inventories data are set to be released at 10:00 am ET, also moved from its previously scheduled Thursday release, followed by weekly petroleum stocks at 10:30 am ET and weekly natural gas stocks at 12:00 pm ET, moved from Thursday.

Minutes of the Dec. 17-18 Federal Open Market Committee meeting are due at 2:00 pm ET and consumer credit data for November are due at 3:00 pm ET.

Earlier Wednesday, the Mortgage Bankers Association said a further uptick in mortgage rates pushed mortgage applications lower in the week ended Jan. 3.

A quick summary of foreign exchange activity heading into Wednesday:

EUR/USD fell to 1.0294 from 1.0345 at the Tuesday US close and 1.0411 at the same time Tuesday morning. Eurozone consumer confidence and business sentiment both declined in December while producer price growth was stronger than expected in November, according to data released earlier Wednesday. The next European Central Bank meeting is scheduled for Jan. 30.

GBP/USD fell to 1.2362 from 1.2481 at the Tuesday US close and 1.2542 at the same time Tuesday morning. UK mortgage rates declined in December, data released earlier Wednesday showed. The next Bank of England meeting is scheduled for Feb. 6.

USD/JPY rose to 158.4052 from 157.8653 at the Tuesday US close and 157.7637 at the same time Tuesday morning. Japanese household confidence declined in December according to data released overnight. The next Bank of Japan meeting is scheduled for Jan. 23-24.

USD/CAD rose to 1.4385 from 1.4359 at the Tuesday US close and 1.4317 at the same time Tuesday morning. Canadian consumer sentiment data for January are due to be released at 11:00 am ET. The next Bank of Canada meeting is scheduled for Jan. 29.