07:49 AM EDT, 03/14/2024 (MT Newswires) -- The US dollar fell against its major trading partners early Thursday, except for an improvement against the euro, ahead of the release of weekly jobless claims and retail sales and producer price data for February, all at 8:30 am ET.
Business inventories data for January follows at 10:00 am ET, with weekly natural gas stocks set to be released at 10:30 am ET and the Atlanta Federal Reserve's GDP nowcast report expected sometime around midday.
The quiet period for Fed officials continues until after the March 19-20 Federal Open Market Committee meeting.
A quick summary of foreign exchange activity heading into Thursday:
EUR-USD fell to 1.0940 from 1.0948 at the Wednesday US close but was up from 1.0931 at the same time Wednesday morning. There are no Eurozone data on Thursday's schedule, but European Central Bank Chief Economist Philip Lane told CNBC that the ECB needs to take its time when considering interest rate cuts. Later, ECB policy board member Luis de Guindos is set to speak at 2:00 pm ET. The next ECB meeting is scheduled for April 11.
GBP-USD rose to 1.2811 from 1.2797 at the Wednesday US close and 1.2793 at the same time Wednesday morning. UK consumer sentiment slipped in March according to a Thompson Reuters index released earlier Thursday. The next Bank of England meeting is scheduled for March 21.
USD-JPY fell to 147.7115 from 147.7603 at the Wednesday US close and 147.9188 at the same time Wednesday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is set for March 18-19.
USD-CAD fell to 1.3466 from 1.3471 at the Wednesday US close and 1.3491 at the same time Wednesday morning. Canada manufacturing sales data for January are scheduled to be released at 8:30 am ET. The next Bank of Canada monetary policy meeting is set for April 10.