07:56 AM EST, 12/12/2024 (MT Newswires) -- The US dollar fell against its major trading partners early Thursday, except for a gain versus the pound, ahead of the release of weekly jobless claims and producer prices for November, both at 8:30 am ET.

Weekly natural gas storage data are scheduled to be released at 10:30 am ET.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD rose to 1.0496 from 1.0493 at the Wednesday US close but was below a level of 1.0508 at the same time Wednesday morning. The European Central Bank is expected to lower its target rate by 50 basis points at its rate announcement expected at 8:15 am ET, followed by a press conference at 8:45 am ET. There are no Eurozone data on Thursday's calendar.

GBP/USD fell to 1.2732 from 1.2746 at the Wednesday US close and 1.2747 at the same time Wednesday morning. UK consumer sentiment declined in December according to data released earlier Thursday. The next Bank of England meeting is scheduled for Dec. 19.

USD/JPY fell to 152.2897 from 152.5987 at the Wednesday US close and 152.6525 at the same time Wednesday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for Dec. 18-19.

USD/CAD fell to 1.4160 from 1.4164 at Wednesday US close and 1.4180 at the same time Wednesday morning. The Bank of Canada cut its target rate by 50 basis points Wednesday and said it expects to have a more gradual approach to monetary policy decisions based on incoming data after a string of reductions since the summer. The next Bank of Canada meeting is schedule for Jan. 29. Canadian building permits for October are due to be released at 8:30 am ET.