07:57 AM EDT, 05/10/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Friday, except for a decline versus the pound, ahead of the release of preliminary University of Michigan consumer sentiment data for May at 10:00 am ET.

The St. Louis Federal Reserve is expected to release its initial Q2 gross domestic product Nowcast growth estimate around midday, followed by the US Treasury's budget estimate of April at 2:00 pm ET.

Fed Governor Michelle Bowman is due to speak at 9:00 am ET, followed by Chicago Fed President Austan Goolsbee at 12:45 pm ET and Fed Vice Chair for Supervision Michael Barr at 1:30 pm ET.

A quick summary of foreign exchange activity heading into Friday:

EUR-USD fell slightly to 1.0780 from 1.0783 at the Thursday US close but was up from 1.0730 at the same time Thursday morning. There are no Eurozone data on Friday's schedule. The next European Central Bank meeting is scheduled for June 6.

GBP-USD rose to 1.2531 from 1.2523 at the Thursday US close and 1.2459 at the same time Thursday morning. UK GDP accelerated in March and rebounded in Q1 after a decline in the previous quarter. The next Bank of England meeting is scheduled for June 20.

USD-JPY rose to 155.7269 from 155.4258 at the Thursday US close but was below a level of 155.8987 at the same time Thursday morning. Japanese household spending rose unexpectedly in March, while Japanese business sentiment slipped in April and Japanese consumer sentiment declined in May, data released overnight showed. The next Bank of Japan meeting is scheduled for June 13-14.

USD-CAD rose to 1.3681 from 1.3676 at the Thursday US close but was below a level of 1.3726 at the same time Thursday morning. Canadian employment data for April are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for June 5.