07:45 AM EDT, 11/01/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Friday, except for a decline versus the pound, ahead of the release of October employment data at 8:30 am ET.

Nonfarm payrolls are expected to rise by only 100,000 jobs after a gain of 254,000 jobs in the previous month, while the unemployment rate is seen remaining at 4.1% and hourly earnings are expected to rise by 0.3% after a 0.4% gain.

Weather effects from two hurricanes as well as a strike against Boeing are likely to be key factors in the slowdown of payrolls growth in October.

Manufacturing conditions data for October from S&P Global is due at 9:45 am ET, followed by the Institute for Supply Management's manufacturing report for October and construction spending data for September, both at 10:00 am ET.

The Atlanta Federal Reserve's gross domestic product growth Nowcast estimate for Q4 is expected around midday.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD fell to 1.0861 from 1.0877 at the Thursday US close and 1.0868 at the same time Thursday morning. There are no Eurozone data on Friday's schedule. The next European Central Bank meeting is scheduled for Dec. 12.

GBP/USD rose to 1.2913 from 1.2893 at the Thursday US close but was below a level of 1.2986 at the same time Thursday morning. UK home prices rose less than expected in October, while its manufacturing purchasing managers' index indicated slight contraction in the same month, according to data released earlier Friday. The next Bank of England meeting is scheduled for Nov. 7.

USD/JPY rose to 152.6323 from 151.9455 at the Thursday US close but was below a level of 152.7105 at the same time Thursday morning. Japanese manufacturing PMI declined further below the breakeven point in October, indicating faster contraction, according to data released overnight. The next Bank of Japan meeting is scheduled for Dec. 18-19.

USD/CAD rose to 1.3930 from 1.3922 at the Thursday US close and 1.3921 at the same time Thursday morning. Canadian manufacturing PMI for October is due to be released at 9:30 am ET. The next Bank of Canada meeting is scheduled for Dec. 11.