07:48 AM EST, 11/22/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Friday, except for a decline versus the yen, before the release of S&P Global flash PMI estimates for November at 9:45 am ET, the University of Michigan's preliminary sentiment reading for November at 10:00 am ET, and the Kansas City Federal Reserve's services reading for November at 11:00 am ET.

The St. Louis Fed is expected to release an update to its GDP nowcast estimate for Q4 around midday and Fed Governor Michelle Bowman is due to speak at 6:15 pm ET.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD fell to 1.0418 from 1.0480 at the Thursday US close and 1.0520 at the same time Thursday morning. Eurozone manufacturing and services PMI both declined in November to signal contraction, according to data released earlier Friday. European Central Bank policy board member Isabel Schnabel is scheduled to speak at 10:45 am ET. The next European Central Bank meeting is scheduled for Dec. 12.

GBP/USD fell to 1.2513 from 1.2597 at the Thursday US close and 1.2640 at the same time Thursday morning. UK manufacturing PMI fell into faster contraction in November while the services reading declined to neutral in November and UK retail sales declined in October, according to data released earlier Friday. The next Bank of England meeting is scheduled for Dec. 19.

USD/JPY fell to 154.4300 from 154.5144 at the Thursday US close and 154.6466 at the same time Thursday morning. Japanese manufacturing PMI declined slightly in November while services PMI rose back above the breakeven point, according to data released overnight. In addition, Japanese consumer prices rebounded in October, but the year-over-year rate slowed. The next Bank of Japan meeting is scheduled for Dec. 18-19.

USD/CAD rose to 1.3999 from 1.3975 at the Thursday US close and 1.3962 at the same time Thursday morning. Canadian manufacturing and wholesale sales and home prices for October as well as retail sales for September are all due to be released at 8:00 am ET. The next Bank of Canada meeting is scheduled for Dec. 11.