07:48 AM EDT, 10/16/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Thursday before an extremely busy day of economic data releases and appearances by Federal Reserve officials, even without the government data releases that have been postponed due to the shutdown.

Richmond Fed President Tom Barkin is due to speak at 8:00 am ET, followed by the New York Fed's services reading and the Philadelphia Fed's manufacturing reading, both for October and both at 8:30 am ET.

Fed Governors Christopher Waller, Michael Barr and Stephen Miran are all due to speak at separate events at 9:00 am ET.

The National Association of Home Builders is due to release its October home builders index at 10:00 am ET, at the same time as an appearance by Fed Vice Chair for Supervision Michelle Bowman.

Weekly natural gas stocks inventory data are due to be released at 10:30 am ET, followed by weekly oil stocks inventory data at 12:00 pm ET. The Atlanta Fed is scheduled to update its gross domestic product Nowcast estimate for Q3 around midday but may delay due to the missing government data.

Barkin is due to speak again at 12:45 pm ET, followed by another appearance by Miran at 4:15 pm ET. Minneapolis Fed President Neek Kashkari is expected to speak at 6:00 pm ET.

Missing due to the government shutdown but originally scheduled for release on Thursday are retail sales and producer price data for September, business inventory data for August and weekly jobless claims.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD rose to 1.1655 from 1.1645 at the Wednesday US close and 1.1626 at the same time Wednesday morning. The Eurozone's trade surplus narrowed in August, according to data released earlier Thursday. European Central Bank policy board member Philip Lane is due to speak at 11:45 am ET, followed by ECB President Christine Lagarde at 12:00 pm ET. The next European Central Bank meeting is scheduled for Oct. 30.

GBP/USD rose to 1.3431 from 1.3393 at the Wednesday US close and 1.3365 at the same time Wednesday morning. UK GDP rebounded in August after a July decline, but the year-over-year slowed, according to data released overnight. Bank of England policy board member Catherine Mann is due to speak at 9:00 am ET and then again at 10:45 am ET, at the same time as BoE Senior Deputy Governor Sam Woods. The next Bank of England meeting is scheduled for Nov. 6.

USD/JPY fell to 151.2396 from 151.2518 at the Wednesday US close and 151.3890 at the same time Wednesday morning. Japanese core machinery orders fell further in August, slowing the year-over-year growth rate, while Japanese services purchases declined in the same month, data released overnight showed. The next Bank of Japan meeting is scheduled for Oct. 29.

USD/CAD fell to 1.4043 from 1.4046 at the Wednesday US close but was above a level of 1.4037 at the same time Wednesday morning and trending higher. Canadian housing starts data for September are due to be released at 8:15 am ET, followed by Canadian new motor vehicle sales data for August at 8:30 am ET and an appearance by Bank of Canada Governor Tiff Macklem at 1:30 pm ET. The next Bank of Canada meeting is scheduled for Oct. 29.