07:51 AM EDT, 04/12/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Friday, except for another small decline versus the yen from elevated levels, before the release of import and export price data for March at 8:30 am ET, the preliminary University of Michigan consumer sentiment reading for April at 10:00 am ET and an update to the St. Louis Federal Reserve's GDP nowcast estimate for Q1 around midday.

Atlanta Fed President Raphael Bostic is scheduled to speak at 2:30 pm ET followed by San Francisco Fed President Mary Daly at 3:30 pm ET. Both vote on the Federal Open Market Committee in 2024.

A quick summary of foreign exchange activity heading into Friday:

EUR-USD fell to 1.0657 from 1.0726 at the Thursday US close and 1.0730 at the same time Thursday morning. The European Central Bank held its target rate steady at its meeting on Thursday but suggested that rate cuts would be appropriate if economic conditions continue to evolve as expected. The next ECB meeting is scheduled for June 6, when some analysts see the possibility of a rate decrease. There are no Eurozone data on Friday's schedule.

GBP-USD fell to 1.2476 from 1.2553 at the Thursday US close and 1.2537 at the same time Thursday morning. UK GDP rose slightly in February but was still down from a year earlier, data released overnight showed. The next Bank of England meeting is scheduled for May 9.

USD-JPY fell slightly to 153.27 from 153.2788 at the Thursday US close but was up from 153.1515 at the same time Thursday morning. Japanese consumer sentiment fell modestly in April while industrial production fell more than expected in February, data released overnight showed. The next Bank of Japan meeting is scheduled for April 25-26.

USD-CAD rose to 1.3743 from 1.3742 at the Thursday US close and 1.3688 at the same time Thursday morning. There are no Canadian data on Friday's schedule. The next Bank of Canada meeting is scheduled for June 5.