07:29 AM EDT, 06/26/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Wednesday ahead of the release of new-home sales data for May at 10:00 am ET and weekly petroleum stocks data at 10:30 am ET.

Earlier Wednesday, the Mortgage Bankers Association reported a small increase in mortgage applications in the week ended June 21, lifted by a slight decrease in the average 30-year mortgage rate.

A quick summary of foreign exchange activity heading into Wednesday:

EUR-USD fell to 1.0686 from 1.0716 at the Tuesday US close and 1.0723 at the same time Tuesday morning. There are no Eurozone data on Wednesday's schedule. The next European Central Bank meeting is scheduled for July 18.

GBP-USD fell to 1.2654 from 1.2690 at the Tuesday US close and 1.2689 at the same time Tuesday morning. UK retail trade conditions deteriorated in June according to data released earlier Wednesday. The next Bank of England meeting is scheduled for Aug. 1.

USD-JPY rose to 160.3003 from 159.6193 at the Tuesday US close and 159.4305 at the same time Tuesday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for July 30-31.

USD-CAD rose to 1.3690 from 1.3655 at the Tuesday US close and 1.3664 at the same time Tuesday morning. Canadian manufacturing and wholesale sales data for May are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for July 24.