07:47 AM EDT, 08/07/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Thursday, except for a gain versus the yen, ahead of a busy economic data release schedule, starting with weekly jobless claims data and preliminary Q2 productivity data, both at 8:30 am ET.

Wholesale inventory data for June are scheduled to be released at 10:00 am ET, at the same time as an appearance by Atlanta Federal Reserve President Raphael Bostic.

Weekly natural gas stocks inventory data are due at 10:30 am ET, followed by the New York Fed's inflation expectations report for July at 11:00 am ET and consumer credit data for June at 3:00 pm ET. The Atlanta Fed is expected to update its gross domestic product Nowcast forecast for Q3 around midday.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD rose to 1.1660 from 1.1656 at the Wednesday US close and 1.1602 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. 11.

GBP/USD rose to 1.3425 from 1.3357 at the Wednesday US close and 1.3317 at the same time Wednesday morning. The Bank of England lowered its target rate by 25 basis points Thursday morning, as expected. The next Bank of England meeting is scheduled for Sept. 18. Overnight, UK home price data showed a larger-than-expected monthly increase in July but a slowing in the year-over-year rate compared with June.

USD/JPY rose to 147.3958 from 147.1788 at the Wednesday US close but was below a level of 147.5626 at the same time Wednesday morning. The Japanese leading index rose faster in June than in the previous month, data released overnight showed. The next Bank of Japan meeting is scheduled for Sept. 18-19.

USD/CAD fell to 1.3739 from 1.3742 at the Wednesday US close and 1.3751 at the same time Wednesday morning. The Canadian IVEY purchasing managers' index survey of July is expected to be released at 10:00 am ET. The next Bank of Canada meeting is scheduled for Sept. 17.