08:09 AM EDT, 04/30/2026 (MT Newswires) -- The US dollar fell against its major trading partners early Thursday ahead of a busy data of economic data releases, starting with weekly jobless claims, the first look at Q1 GDP, personal income and spending data for March and the employment cost index for Q1, all at 8:30 am ET.

The Chicago PMI for April is due to be released at 9:45 am ET, followed by weekly natural gas stocks at 10:30 am ET and initial estimate of the Atlanta Federal Reserve's GDP nowcast for Q2 around midday.

The FOMC maintained the target range for its policy rate at 3.50% to 3.75% at its meeting on Wednesday and made few changes to its statement, but there were three dissents in favor of removing the easing bias from the statement in addition to Governor Stephen Miran's dissent to lower the target range by 25 basis points.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD rose to 1.1702 from 1.1676 at the Wednesday US close but was below a level of 1.1708 at the same time Wednesday morning. Eurozone consumer price rose at a slower pace in April than in the previous month, but the year-over-year rate accelerated, while Eurozone GDP growth slowed in Q1 compared with the previous quarter and the Eurozone unemployment rate declined in March, according to data released overnight. The next European Central Bank meeting announcement is scheduled to be released at 8:15 am ET, when no change in the target rate is expected.

GBP/USD rose to 1.3514 from 1.3477 at the Wednesday US close and 1.3508 at the same time Wednesday morning. The Bank of England maintained its current target rate its meeting announcement Thursday morning on an 8-1 vote and cited concerns that inflation will be lifted by global uncertainty. The next Bank of England meeting is scheduled for June 18. There are no UK data on Thursday's schedule.

USD/JPY plunged to 156.51 overnight from 160.3923 at the Wednesday US close and 159.8116 at the same time Wednesday morning on suggestions that Japan may intervene in currency markets to support the yen. Japanese industrial production declined in March while Japanese retail sales rebounded in March after a decline in the previous month and Japanese household confidence declined in April, according to data released overnight. The next Bank of Japan meeting is scheduled for June 15-16.

USD/CAD fell to 1.3663 from 1.3682 at the Wednesday US close and 1.3680 at the same time Wednesday morning. The Bank of Canada held its target rate steady in its meeting announcement on Wednesday, citing uncertainty due to geopolitical tensions. The next Bank of Canada meeting is scheduled for June 10. Canada GDP data for February and March are due to be released at 8:30 am ET.