07:50 AM EDT, 09/05/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Friday ahead of the release of employment data for August at 8:30 am ET.

Nonfarm payrolls are expected to rise by 75,000 in August after 73,000 jobs gain in the previous month, the unemployment rate is forecast to rise to 4.3% from 4.2% and hourly earnings are expected to rise by 0.3% after a matching gain in the previous month.

The St. Louis Federal Reserve is expected to update its GDP nowcast estimate for Q3 around midday.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD rose to 1.1691 from 1.1651 at the Thursday US close and 1.1645 at the same time Thursday morning. Eurozone GDP growth slowed in Q2 compared with the previous quarter, but the year-over-year rate continued at the same pace as Q1, according to data released earlier Friday. The next European Central Bank meeting is scheduled for Sept. 11.

GBP/USD rose to 1.3482 from 1.3436 at the Thursday US close and 1.3439 at the same time Thursday morning. UK retail sales rose more than expected in July while home prices grew at a faster pace than forecasted in August, according to data released overnight. The next Bank of England meeting is scheduled for Sept. 18.

USD/JPY fell to 148.2186 from 148.4876 at the Thursday US close and 148.3439 at the same time Thursday morning. Japanese household spending rebounded in July after a decline in the previous month, while the Japanese leading index increased in July at the same pace as in the previous month, according to data released overnight. The next Bank of Japan meeting is scheduled for Sept. 18-19.

USD/CAD fell to 1.3794 from 1.3825 at the Thursday US close and 1.3824 at the same time Thursday morning. The Canadian employment report for August is due to be released at 8:30 am ET, followed by the Canada IVEY PMI survey for August at 10:00 am ET. The next Bank of Canada meeting is scheduled for Sept. 17.