07:51 AM EDT, 08/15/2024 (MT Newswires) -- The US dollar fell against its major trading partners early Thursday, except for a small improvement versus the euro, before an extremely busy day of economic data releases.

Weekly jobless claims, retail sales for July, import and export prices for July, and manufacturing data for August from both the New York Federal Reserve and Philadelphia Fed will all be released at 8:30 am ET.

Industrial production data for July are due to be released at 9:15 am ET, followed by business inventories data for June and the National Association of Home Builders monthly sentiment survey for August, both at 10:00 am ET.

Weekly natural gas stocks are due at 10:30 am ET and the Atlanta Fed is expected to update its gross domestic product Nowcast estimate around midday, with TICS data from the US Treasury ending the day at 4:00 pm ET.

Philadelphia Federal Reserve President Patrick Harker, who next votes on the Federal Open Market Committee in 2026, is expected to speak at 3:10 pm ET.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD fell to 1.1012 from 1.1014 at the Wednesday US close and 1.1022 at the same time Wednesday morning. There are no Eurozone data on Thursday's schedule. The next European Central Bank meeting is scheduled for Sept. 12.

GBP/USD rose to 1.2857 from 1.2828 at the Wednesday US close and 1.2843 at the same time Wednesday morning. UK GDP growth slowed in Q2 compared with the previous quarter, but the year-over-year rate accelerated, data released overnight showed. Later in the morning, UK consumer confidence posted a solid gain in August. The next Bank of England meeting is scheduled for Sept. 19.

USD/JPY fell to 147.2784 from 147.3468 at the Wednesday US close but was above a level of 146.9117 at the same time Wednesday morning. Japanese GDP rebounded in Q2 after a dip in the previous quarter, boosting the year-over-year rate, data released overnight showed. The next Bank of Japan meeting is scheduled for Sept. 19-20.

USD/CAD fell to 1.3708 from 1.3716 at the Wednesday US close and was little changed from a level of 1.3709 at the same time Wednesday morning. Canadian wholesale and new motor vehicle sales data for June are set to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for Sept. 4.