07:35 AM EDT, 03/29/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Friday, except for a decline versus the yen, ahead of the release of personal income, spending, and price data and advance trade and inventory data, all for February, at 8:30 am ET, with most US markets closed for Good Friday.

Chicago PMI and Kansas City Federal Reserve services data for March follow at 9:45 am ET and 11:00 am ET, respectively. Updates to the Atlanta Fed and St. Louis Fed GDP nowcast series are expected around midday.

Fed Chairman Jerome Powell is scheduled to participate in a live discussion on monetary policy at 11:30 am ET after comments from other Fed officials this week that there could be fewer rate cuts this year than previously forecast due to stronger-than-expected data.

Powell is also likely to be asked about the PCE price data released earlier in the day and the impact of the collapse on the Francis Scott Key Bridge in Baltimore earlier this week on the supply chain and inflation.

San Francisco Fed President Mary Daly will make opening remarks before the discussion with Powell begins.

A quick summary of foreign exchange activity heading into Friday:

EUR-USD fell to 1.0785 from 1.0788 at the Thursday US close and 1.0790 at the same time Thursday morning. There are no Eurozone data on Friday's schedule. The next European Central Bank meeting is scheduled for April 11.

GBP-USD fell to 1.2613 from 1.2624 at the Thursday US close and 1.2618 at the same time Thursday morning. There are no UK data on Friday's schedule due to the holiday. The next Bank of England meeting is scheduled for May 9.

USD-JPY fell to 151.3319 from 151.3716 at the Thursday US close and 151.3579 at the same time Thursday morning. Tokyo consumer prices, a proxy for Japanese CPI, grew at the same rate year-over-year in March as in the previous month while core price growth slowed modestly, data released overnight showed. The next Bank of Japan meeting is scheduled for April 25-26.

USD-CAD rose to 1.3551 from 1.3540 at the Thursday US close but was below a level of 1.3593 at the same time Thursday morning. There are no Canadian data on Friday's schedule due to the holiday. The next Bank of Canada meeting is set for April 10.