07:44 AM EDT, 05/23/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Friday before the beginning of the long US Memorial Day holiday weekend.

Kansas City Federal Reserve President Jeffrey Schmid is due to speak at 9:35 am ET, followed by new home sales data for April at 10:00 am ET and the Kansas City Fed's services reading for May at 11:00 am ET.

St. Louis Fed is due to update its Q2 gross domestic product Nowcast estimate around midday and Fed Governor Lisa Cook is due to speak at 12:00 pm ET.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD rose to 1.1349 from 1.1279 at the Thursday US close and 1.1293 at the same time Thursday morning. There are no Eurozone data on Friday's schedule, but European Central Bank Chief Economist Philip Lane said earlier in the day he expects slower services inflation growth later in the year, according to Reuters. ECB policy board member Isabel Schnabel is due to speak at 12:00 pm ET. The next European Central Bank meeting is scheduled for June 4-5.

GBP/USD rose to 1.3495 from 1.3419 at the Thursday US close and 1.3406 at the same time Thursday morning. UK retail sales rose much faster than expected according to data released overnight. The next Bank of England meeting is scheduled for June 19.

USD/JPY fell to 143.0903 from 143.9854 at the Thursday US close and 143.6586 at the same time Thursday morning. Japanese consumer price growth accelerated in April according to data released overnight. The next Bank of Japan meeting is scheduled for June 16-17.

USD/CAD fell to 1.3813 from 1.3865 at the Thursday US close and 1.3864 at the same time Thursday morning. Canada retail sales data for March are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for June 4.