07:24 AM EDT, 04/11/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Thursday, except for a small decline against the yen, before the release of producer price data for March and weekly jobless claims, both at 8:30 am ET, and weekly natural gas stocks data at 10:30 am ET.

The stronger-than-expected consumer price index data for March released Wednesday pushed rate cut expectations lower, shaking markets who were strongly betting that the Federal Open Market Committee was going to be ready to act in June but lifting the dollar significantly from its levels before the CPI release.

New York Federal Reserve President John Williams is due to speak at 8:45 am ET, followed by Richmond Fed President Tom Barkin at 10:00 am ET and Atlanta Fed President Raphael Bostic at 1:30 pm ET. All three vote on the FOMC this year.

A quick summary of foreign exchange activity heading into Thursday:

EUR-USD fell to 1.0729 from 1.0743 at the Wednesday US close and 1.0864 at the same time Wednesday morning. The European Central Bank's post-meeting announcement is set to be released at 8:15 am ET, followed by comments from ECB President Christine Lagarde. No change in rates is expected. There are no Eurozone data on Thursday's schedule.

GBP-USD fell to 1.2540 from 1.2541 at the Wednesday US close and 1.2701 at the same time Wednesday morning. UK home prices declined sharply in March and consumer sentiment improved in April, data released earlier Thursday showed. The next Bank of England meeting is scheduled for May 9.

USD-JPY fell to 153.0728 from 153.1611 at the Wednesday US close but was still up sharply from 151.8378 at the same time Wednesday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for April 25-26.

USD-CAD rose to 1.3689 from 1.3681 at the Wednesday US close and 1.3557 at the same time Wednesday morning. The Bank of Canada left its policy rate unchanged Wednesday, as expected, and said it wants to see more evidence of inflation easing before considering loosening policy. The next BoC meeting is scheduled for June 5. There are no Canadian data on Thursday's schedule.