07:54 AM EDT, 05/22/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Thursday, except for a further decline versus the yen, ahead of a busy day of economic data releases, starting with weekly jobless claims and the Chicago Federal Reserve's national activity index for April at 8:30 am ET.

The S&P Global flash purchasing managers' index estimates for May are due at 9:45 am ET followed by existing home sales data for April at 10:00 am ET, weekly natural gas stocks inventory at 10:30 am ET and the Kansas City manufacturing reading for May at 11:00 am ET.

New York Fed President John Williams is due to speak at 2:00 pm ET.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD fell to 1.1302 from 1.1319 at the Wednesday US close and 1.1342 at the same time Wednesday morning. Eurozone manufacturing and services PMI both declined in May and now indicate contraction for both sectors, data released overnight showed. European Central Bank policy board member Frank Elderson is due to speak at 11:00 am ET, followed by ECB Vice President Luis de Guindos at 11:35 am ET. The next European Central Bank meeting is scheduled for June 4-5.

GBP/USD fell to 1.3412 from 1.3417 at the Wednesday US close and 1.3413 at the same time Wednesday morning. UK manufacturing PMI declined in May while the services reading advanced, according to data released earlier Thursday. Bank of England policy board member Huw Pill is due to speak at 8:30 am ET. The next Bank of England meeting is scheduled for June 19.

USD/JPY fell to 143.6276 from 143.6921 at the Wednesday US close and 143.6327 at the same time Wednesday morning. Bank of Japan manufacturing PMI improved in May but remained below the breakeven point while the services PMI declined but still indicated expansion, data released overnight showed. The next Bank of Japan meeting is scheduled for June 16-17.

USD/CAD rose slightly to 1.3864 from 1.3863 at the Wednesday US close but was below a level of 1.3882 at the same time Wednesday morning. Canadian industrial product and raw materials prices for April are due to be released at 8:30 am ET, followed an appearance by Bank of Canada Governor Tiff Macklem at 2:30 pm ET. The next Bank of Canada meeting is scheduled for June 4.