07:52 AM EDT, 10/18/2024 (MT Newswires) -- The US dollar fell against its major trading partners early Friday before the release of September home building data at 8:30 am ET.

Atlanta Federal Reserve President Raphael Bostic is due to speak at 9:30 am ET, followed by Minneapolis Fed Governor Neel Kashkari at 10:00 am ET, Fed Governor Christopher Waller at 12:10 pm ET and Bostic again at 12:30 pm ET.

The Atlanta and St. Louis Fed banks are due to release updates to their gross domestic product growth Nowcast estimates for Q3 around midday.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD rose to 1.0847 from 1.0828 at the Thursday US close but was below a level of 1.0861 at the same time Thursday morning before the European Central Bank cut its target rate by 25 basis points for the second meeting in a row, as expected, suggesting that slowing growth is a greater concern for the central bank. The next ECB meeting is scheduled for Dec. 12. The Eurozone current account surplus narrowed in August while construction output rose only slightly in the same month, data released earlier Friday showed.

GBP/USD rose to 1.3048 from 1.3013 at the Thursday US close and 1.3009 at the same time Thursday morning. UK retail sales rose unexpectedly in September, though at a slower monthly pace than in the previous month, data released overnight showed. The next Bank of England meeting is scheduled for Nov. 7.

USD/JPY fell to 149.9046 from 150.2221 at the Thursday US close but was above a level of 149.6035 at the same time Thursday morning. Japanese consumer prices declined in September, pulling down the year-over-year rate, data released overnight showed. The next Bank of Japan meeting is scheduled for Oct. 30-31.

USD/CAD fell to 1.3792 from 1.3799 at Thursday US close but was above a level of 1.3779 at the same time Thursday morning. There are no Canadian data on Friday's schedule. The next Bank of Canada meeting is scheduled for Oct. 23.