07:27 AM EDT, 05/29/2024 (MT Newswires) -- The US dollar advanced against its major trading partners early Wednesday ahead of busy day of data releases and Federal Reserve events.

Weekly Redbook same-store sales are due for release at 8:55 am ET, followed by the Richmond Fed's conditions readings for May at 10:00 am ET and the Dallas Fed's nonmanufacturing index for May at 10:30 am ET.

Earlier Wednesday, the Mortgage Bankers Association reported that mortgage rates rose for the first time in four weeks, driving down both refinancing activity and applications for new purchases in the week ended May 24.

New York Fed President John Williams is set to speak at 1:45 pm ET, followed by the Fed's Beige Book report at 2:00 pm ET and an appearance by Atlanta Fed President Raphael Bostic at 7:00 pm ET.

A quick summary of foreign exchange activity heading into Wednesday:

EUR-USD fell to 1.0851 from 1.0861 at Tuesday US close and 1.0878 at the same time Tuesday morning. Eurozone private sector loans rose less than expected in April, data released earlier Wednesday showed. The next European Central Bank meeting is scheduled for June 6.

GBP-USD fell to 1.2747 from 1.2762 at the Tuesday US close and 1.2779 at the same time Tuesday morning. There are no UK data on Wednesday's calendar. The next Bank of England meeting is scheduled for June 20.

USD-JPY rose to 157.2263 from 157.1433 at the Tuesday US close and 156.8660 at the same time Tuesday morning. Japanese household confidence fell in May, data released overnight showed. The next Bank of Japan meeting is scheduled for June 13-14.

USD-CAD rose to 1.3670 from 1.3645 at the Tuesday US close and 1.3628 at the same time Tuesday morning. There are no Canadian data on Wednesday's schedule. The next Bank of Canada meeting is set for June 5.