07:45 AM EDT, 10/24/2024 (MT Newswires) -- The US dollar fell against its major trading partners early Thursday before a busy day of data releases that starts with weekly jobless claims and the Chicago Fed's national activity index for September, both at 8:30 am ET.

The S&P Global manufacturing and services flash purchasing managers' index estimates for October are due to be released at 9:45 am ET, followed by new-home sales for September at 10:00 am ET, weekly natural gas stocks at 10:30 am ET and the Kansas City Fed's manufacturing reading for October at 11:00 am ET.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD rose to 1.0799 from 1.0786 at the Wednesday US close and 1.0779 at the same time Wednesday morning. Eurozone flash manufacturing PMI improved modestly in October but still indicated contraction, while the services PMI declined slightly but remained above the breakeven point, according to data released earlier Thursday. European Central Bank policy board member Elizabeth McCaul is due to speak at 11:00 am ET, followed by board member Philip Lane at 1:00 pm ET. The next European Central Bank meeting is scheduled for Dec. 12.

GBP/USD rose to 1.2979 from 1.2933 at the Wednesday US close and 1.2971 at the same time Wednesday morning. UK flash manufacturing and services PMIs fell in October, but both still indicated modest expansion, according to data released earlier Thursday. Bank of England Governor Andrew Bailey is due to speak at events at both 11:20 am ET and 3:45 pm ET. The next Bank of England meeting is scheduled for Nov. 7.

USD/JPY fell to 151.8527 from 152.5841 at the Wednesday US close and 152.8172 at the same time Wednesday morning. Japanese flash manufacturing and services PMI both declined in October to indicate contraction, data released overnight showed. The next Bank of Japan meeting is scheduled for Oct. 30-31.

USD/CAD fell to 1.3820 from 1.3836 at the Wednesday US close and 1.3828 at the same time Wednesday morning. The Bank of Canada cut its target rate by 50 basis points on Wednesday after three straight 25 basis point reductions, as expected, saying that inflation risks are now "reasonably balanced" and suggesting that further rate cuts are likely. The next BoC meeting is scheduled for Dec. 11. Canada home price data for September are due to be released at 8:30 am ET.