07:54 AM EST, 02/20/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Thursday before a busy schedule of economic data releases.

Weekly jobless claims data and the Philadelphia Federal Reserve's manufacturing reading for February are both due at 8:30 am ET, followed by leading indicators data for January at 10:00 am ET.

Weekly natural gas stocks inventory data are set to be released at 10:30 am ET and weekly petroleum stocks inventory data are due at 11:00 am ET.

Chicago Fed President Austan Goolsbee is due to speak at 9:35 am ET, followed by Federal Reserve Vice Chair for Supervision Michael Barr at 2:30 pm ET and Fed Governor Adriana Kugler at 5:00 pm ET.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD rose to 1.0438 from 1.0426 at the Wednesday US close and 1.0425 at the same time Wednesday morning. Eurozone construction output was flat in December, according to data released earlier Thursday. Eurozone consumer confidence data for February are due to be released at 10:00 am ET. The next European Central Bank meeting is scheduled for March 5-6.

GBP/USD rose to 1.2614 from 1.2587 at the Wednesday US close and 1.2582 at the same time Wednesday morning. UK manufacturing expectations deteriorated further in February according to data released earlier Thursday. The next Bank of England meeting is scheduled for March 20.

USD/JPY fell to 150.0598 from 151.4685 at the Wednesday US close and 151.7915 at the same time Wednesday morning. There were no Japanese data released overnight, turning the focus to January consumer price data and February business conditions data to be released Friday. The next Bank of Japan meeting is scheduled for March 18-19.

USD/CAD fell to 1.4216 from 1.4226 at the Wednesday US close but was up from a level of 1.4211 at the same time Wednesday morning. Canadian industrial products, raw materials and home price data for January are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for March 12.