07:59 AM EDT, 06/26/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Thursday before a busy economic data release schedule as President Donald Trump suggested he will name Federal Reserve Chairman Jerome Powell's successor later this year, well ahead of Powell's expected departure in May 2026.

Weekly jobless claims, a third look at Q1 gross domestic product, and durable goods orders, advance trade data and the Chicago Fed's national activity index for May will all be released at 8:30 am ET, at the same time as an appearance by Chicago Fed President Austan Goolsbee.

Richmond Fed President Tom Barkin is due to speak at 8:45 am ET, followed by pending home sales data for May at 10:00 am ET, weekly natural gas stocks inventory data at 10:30 am ET and the Kansas City Fed's manufacturing reading for June at 11:00 am ET.

Fed Governor Michael Barr is due to speak at 1:15 pm ET.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD rose to 1.1708 from 1.1657 at the Wednesday US close and 1.1610 at the same time Wednesday morning. There are no Eurozone data on Thursday's schedule, but European Central Bank Vice President Luis de Guindos said earlier in the day conflicts in the Middle East could have a negative effect on Eurozone growth and inflation, according to the Wall Street Journal. ECB President Christine Lagarde is due to speak at 2:30 pm ET. The next European Central Bank meeting is scheduled for July 24.

GBP/USD rose to 1.3717 from 1.3664 at the Wednesday US close and 1.3614 at the same time Wednesday morning. UK retailers were more pessimistic in June than in the previous month, according to data released earlier Thursday. The next Bank of England meeting is scheduled for Aug. 7.

USD/JPY fell to 144.3756 from 145.2420 at the Wednesday US close and 145.7110 at the same time Wednesday morning. There were no Japanese data released overnight, so the focus is on Tokyo consumer price data for June due to be released at 7:30 pm ET Thursday evening. The next Bank of Japan meeting is scheduled for July 30-31.

USD/CAD fell to 1.3683 from 1.3719 at the Wednesday US close and 1.3734 at the same time Wednesday morning. Canadian average weekly earnings data for April and wholesale sales data for May are due to be released at 8:30 am ET, followed by Canadian budget balance data for April at 9:00 am ET. The next Bank of Canada meeting is scheduled for July 30.