07:48 AM EST, 01/03/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Friday ahead of the release of the Institute for Supply Management's manufacturing reading for December at 10:00 am ET and weekly natural gas storage inventory report at 10:30 am ET.

The Atlanta and St. Louis Federal Reserve banks are due to update their gross domestic product growth Nowcast estimates for Q4 around midday.

Richmond Fed President Tom Barkin, who next votes on the Federal Open Market Committee in 2027, is due to speak at 11:00 am ET.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD rose to 1.0303 from 1.0263 at the Thursday US close but was below a level of 1.0329 at the same time Thursday morning. There are no Eurozone data on Friday's schedule, but European Central Bank policy board member Philip Lane is schedule to speak at 11:00 am ET. The next European Central Bank meeting is scheduled for Jan. 30.

GBP/USD rose to 1.2409 from 1.2380 at the Thursday US close but was below a level of 1.2452 at the same time Thursday morning. UK consumer credit and mortgage lending both rose less than expected in November, data released overnight showed. The next Bank of England meeting is scheduled for Feb. 6.

USD/JPY fell to 157.2416 from 157.6163 at the Thursday US close but was above a level of 157.2246 at the same time Thursday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for Jan. 23-24.

USD/CAD fell to 1.4395 from 1.4401 at the Thursday US close and 1.4418 at the same time Thursday morning. There are no Canadian data on Friday's schedule. The next Bank of Canada meeting is scheduled for Jan. 29.