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US Dollar Rises Early Friday Ahead of CPI, S&P Global Flash PMI Estimates, Michigan Consumer Sentiment Data
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US Dollar Rises Early Friday Ahead of CPI, S&P Global Flash PMI Estimates, Michigan Consumer Sentiment Data
Oct 24, 2025 5:06 AM

07:48 AM EDT, 10/24/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Friday ahead of the rescheduled consumer price index report for September at 8:30 am ET.

The report was originally set to be released on Oct. 15, before being delayed due to the government shutdown. The Bureau of Labor Statistics brought back the CPI staff to produce this month's report to allow for the calculation of the annual cost-of-living adjustment for Social Security.

The S&P Global flash estimates of manufacturing and services purchasing managers' indexes for October are due to be released at 9:45 am ET, followed by the final University of Michigan consumer sentiment reading for October at 10:00 am ET, services data for October from the Kansas City Federal Reserve at 11:00 am ET and an update to the St. Louis Fed's gross domestic product Nowcast estimate for Q3 around midday.

New-home sales data for September are delayed due to the government shutdown.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD fell to 1.1610 from 1.1616 at the Thursday US close but was above a level of 1.1588 at the same time Thursday morning. Eurozone manufacturing and services PMI both improved in October according to data released earlier Friday. The next European Central Bank meeting is scheduled for Oct. 30.

GBP/USD fell to 1.3312 from 1.3323 at the Thursday US close and 1.3336 at the same time Thursday morning. UK manufacturing PMI rose in October but remained below the breakeven point while services PMI moved further into expansion territory, according to data released earlier Friday. Overnight, UK retail sales rose less in September than in the previous month, but the year-over-year rates accelerated. The next Bank of England meeting is scheduled for Nov. 6.

USD/JPY rose to 152.9417 from 152.5598 at the Thursday US close and 152.7628 at the same time Thursday morning. Japanese consumer prices rose modestly in September, lifting the year-over-year rates, while Japan's manufacturing and services PMI declined in October and the Japanese leading index rose less than expected in August, data released overnight showed. The next Bank of Japan meeting is scheduled for Oct. 29.

USD/CAD rose to 1.4026 from 1.3986 at the Thursday US close and 1.3999 at the same time Thursday morning. Canadian new home price data for September are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for Oct. 29.

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