07:51 AM EDT, 06/27/2024 (MT Newswires) -- The US dollar fell against its major trading partners early Thursday ahead of a busy day of economic data releases, starting with weekly jobless claims, durable goods orders for May, the final look at Q1 gross domestic product growth and advance trade data for May, all at 8:30 am ET.

Pending home sales data for May is due for release at 10:00 am ET, followed by weekly natural gas stocks at 10:30 am ET, the Kansas City Federal Reserve's manufacturing reading for June at 11:00 am ET and the Atlanta Fed's GDP Nowcast update for Q2 around midday.

The first presidential debate between President Joseph Biden and former President Donald Trump is scheduled to begin at 9:00 pm ET Thursday evening.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD rose to 1.0702 from 1.0681 at the Wednesday US close and 1.0686 at the same time Wednesday morning. Eurozone consumer confidence improved slightly in June but remained pessimistic while the business climate reading deteriorated further, according to data released earlier Thursday. European Central Bank policy board member Frank Elderson is set to speak at 8:15 am ET. The next European Central Bank meeting is scheduled for July 18.

GBP/USD rose to 1.2650 from 1.2622 at the Wednesday US close but was below a level of 1.2654 at the same time Wednesday morning. There were no UK data released overnight. The next Bank of England meeting is scheduled for Aug. 1.

USD/JPY fell to 160.5328 from 160.8009 at the Wednesday US close but was above a level of 160.3261 at the same time Wednesday morning. Japanese retail sales rose solidly in May, lifting the year-over-year rate, data released overnight showed. The next Bank of Japan meeting is scheduled for July 30-31.

USD/CAD fell to 1.3687 from 1.3700 at the Wednesday US close and 1.3694 at the same time Wednesday morning. Canadian weekly earnings for April are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for July 24.