07:39 AM EST, 02/19/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Wednesday, except for a decline versus the yen, ahead of the release of housing starts data for January and the New York Federal Reserve's services index reading for February, both at 8:30 am ET.

Weekly Redbook same-store sales data are due to be released at 8:55 am ET, followed by an update to the Atlanta Fed's gross domestic product growth Nowcast model around midday.

Minutes of the Federal Open Market Committee's Jan. 28-29 meeting are due to be released at 2:00 pm ET and Fed Vice Chair Philip Jefferson is scheduled to speak at 5:00 pm ET.

Earlier Wednesday, the Mortgage Bankers Association said that mortgage applications declined in the week ended Feb. 14 despite a further downtick in mortgage rates.

A quick summary of foreign exchange activity heading into Wednesday:

EUR/USD fell to 1.0424 from 1.0447 at the Tuesday US close and 1.0463 at the same time Tuesday morning. The Eurozone current account surplus widened in December, data released earlier Wednesday showed. The next European Central Bank meeting is scheduled for March 5-6.

GBP/USD fell to 1.2581 from 1.2607 at the Tuesday US close and 1.2605 at the same time Tuesday morning. UK consumer prices declined in January but the year-over-year rate accelerated for both the overall reading and the core measure, according to data released overnight. The next Bank of England meeting is scheduled for March 20.

USD/JPY fell to 151.7863 from 152.0351 at the Tuesday US close and 151.8480 at the same time Tuesday morning. Japanese business sentiment improved slightly in February while the trade deficit widened in January, according to data released overnight. The next Bank of Japan meeting is scheduled for March 18-19.

USD/CAD rose to 1.4213 from 1.4189 at the Tuesday US close and 1.4197 at the same time Tuesday morning. There are no Canadian data on Wednesday's schedule. The next Bank of Canada meeting is scheduled for March 12.