US Dollar Falls Early Tuesday Ahead of Trade, Redbook, Consumer Sentiment

MT newswire2026/10/06 11:40

07:40 AM EDT, 10/06/2026 (MT Newswires) -- The US dollar fell against its major trading partners early Tuesday, except for a gain versus the yen, before the release of international trade data for August at 8:30 am ET and weekly Redbook same-store sales at 8:55 am ET. New York Federal Reserve President John Williams is due to speak at 9:05 am ET, and the RealClearMarkets consumer sentiment reading for October is scheduled to be released at 10:00 am ET. Fed Vice Chair for Supervision Michelle Bowman is expected to speak at 10:45 am ET, followed by the Atlanta Fed's GDP nowcast estimate for Q3 around midday. A quick summary of foreign exchange activity heading into Tuesday: EUR/USD rose to 1.1250 from 1.1219 at the Monday US close and 1.1214 at the same time Monday morning. Eurozone construction PMI rose in September but remained below the breakeven point, while Eurozone retail sales rebounded in August after a decline in the previous month, data released earlier Tuesday showed. European Central Bank policy board member Frank Elderson is due to speak at 9:00 am ET. The next European Central Bank meeting is scheduled for Oct. 29. GBP/USD rose to 1.3259 from 1.3222 at the Monday US close and 1.3230 at the same Monday morning. UK construction PMI rose in September but still indicated contraction in the sector, according to data released earlier Monday. The next Bank of England meeting is scheduled for Nov. 5. USD/JPY rose to 158.1061 from 158.0011 at the Monday US close and 158.0772 at the same time Monday morning. There were no Japanese data released overnight, but Bank of Japan Governor Kazuo Ueda said in a speech that targeting inflation remains the BOJ's focus, suggesting rate increases are possible. The next Bank of Japan meeting is scheduled for Oct. 30. USD/CAD fell to 1.4257 from 1.4263 at the Monday US close and 1.4261 at the same time Monday morning. Canadian trade balance data for August are due to be released at 8:30 am ET, followed by the Canada Ivey PMI for September at 10:00 am ET. The next Bank of Cana

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.