US Dollar Rises Early Monday, Focus on FOMC Minutes This Week

07:19 AM EDT, 10/05/2026 (MT Newswires) -- The US dollar rose against its major trading partners early Monday, with the focus this week on the minutes of the Sept. 15-16 Federal Open Market Committee meeting, particularly the discussion around the 25-basis point rate increase. Monday's schedule is light, with only nonmanufacturing data from S&P Global at 9:45 am ET and ISM at 10:00 am ET. Tuesday's schedule includes international trade data for August, weekly Redbook same-store sales, and the first look at consumer sentiment for October at 10:00 am ET. Prior to the FOMC minutes, weekly mortgage applications, oil stocks data, and the New York Federal Reserve's inflation expectations report for September are due to be released on Wednesday, with consumer credit data for August later in the day. Thursday's highlights include weekly jobless claims, wholesale inventory data for August, and weekly natural gas stocks. Friday's calendar is light on data, with only the preliminary University of Michigan consumer sentiment reading for October and an update to the St. Louis Fed's GDP nowcast estimate for Q3. A quick summary of foreign exchange activity heading into Monday: EUR/USD fell to 1.1202 from 1.1255 at the Friday US close and 1.1233 at the same time Friday morning. Eurozone services PMI rose in September, producer price growth accelerated, and investor confidence declined in October, data released earlier Monday showed. The next European Central Bank meeting is scheduled for Oct. 29. GBP/USD fell to 1.3224 from 1.3244 at the Friday US close and 1.3240 at the same time Friday morning. United Kingdom services PMI declined slightly in September while car registrations surged in the same month, data released earlier Monday showed. The next Bank of England meeting is scheduled for Nov. 5. USD/JPY rose to 157.9162 from 157.8531 at the Friday US close and 157.7393 at the same time Friday morning. Japanese services PMI and household confidence both declined in September, according to data released overnight. The next Bank of Japan meeting is scheduled for Oct. 30. USD/CAD rose to 1.4253 from 1.4252 at the Friday US close and 1.4244 at the same time Friday morning. Canadian services PMI data for December are due to be released at 9:30 am ET. The next Bank of Canada meeting is scheduled for Oct. 28.