07:39 AM EDT, 07/17/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Thursday ahead of a busy day of economic data releases and appearances by Federal Reserve officials.

Weekly initial jobless claims, retail sales and import and export price data for June and the Philadelphia Fed's manufacturing report for July will all be released at 8:30 am ET.

Business inventory data for June and the National Association of Home Builders' home builder sentiment reading for July are due to be released at 10:00 am ET, at the same time as an appearance by Fed Governor Adriana Kugler.

Weekly natural gas stocks data are due at 10:30 am ET and the Atlanta Fed is expected to update its gross domestic product Nowcast estimate for Q2 around midday.

San Francisco Fed President Mary Daly is scheduled to speak at 12:45 pm ET, followed by Fed Governor Lisa Cook at 1:30 pm ET and Fed Governor Christopher Waller at 6:30 pm ET.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD fell to 1.1585 from 1.1636 at the Wednesday US close and 1.1617 at the same time Wednesday morning. Eurozone consumer prices rose as expected in June, keeping the year-over-year rates in line with the previous month. The next European Central Bank meeting is scheduled for July 24.

GBP/USD fell to 1.3399 from 1.3418 at the Wednesday US close and 1.3406 at the same time Wednesday morning. UK jobless claims rose more than expected in June while earnings growth slowed in May and the unemployment rate rose. The next Bank of England meeting is scheduled for Aug. 7.

USD/JPY rose to 148.6258 from 147.8486 at the Wednesday US close but was below a level of 148.6498 at the same time Wednesday morning. The Japanese trade surplus was smaller than expected in June and narrowed from a year earlier, according to data released overnight. The next Bank of Japan meeting is scheduled for July 30-31.

USD/CAD rose to 1.3769 from 1.3684 at the Wednesday US close and 1.3725 at the same time Wednesday morning. Canadian foreign securities purchases data for May are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for July 30.