07:47 AM EST, 02/14/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Friday ahead of a busy schedule of data releases that leads into the long US Presidents' Day holiday weekend.

Retail sales and import and export price data for January are due to be released at 8:30 am ET, followed by industrial production data for January at 9:15 am ET.

Business inventories data for December are scheduled to be released at 10:00 am ET and the Atlanta and St. Louis Federal Reserve banks are expected to update their gross domestic product growth Nowcast estimates around midday.

Dallas Fed President Lorie Logan is due to speak at 3:00 pm ET. Logan next votes on the Federal Open Market Committee in 2026.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD rose to 1.0467 from 1.0462 at the Thursday US close and 1.0421 at the same time Thursday morning. Eurozone GDP grew only modestly in Q1, keeping the year-over-year rate in line with the previous quarter, while employment growth slowed in Q2 from the previous quarter, according to data released earlier Friday. The next European Central Bank meeting is scheduled for March 5-6.

GBP/USD rose to 1.2583 from 1.2562 at the Thursday US close and 1.2475 at the same time Thursday morning. There are no UK data on Friday's schedule. The next Bank of England meeting is scheduled for March 20.

USD/JPY fell to 152.7305 from 152.7333 at the Thursday US close and 153.7831 at the same time Thursday morning. Japanese consumer sentiment declined in February, according to data released overnight. The next Bank of Japan meeting is scheduled for March 18-19.

USD/CAD fell to 1.4182 from 1.4186 at the Thursday US close and 1.4294 at the same time Thursday morning. Canadian manufacturing, wholesale and motor vehicle sales for December are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for March 12.