08:03 AM EDT, 07/24/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Thursday ahead of a busy day of economic data releases, starting with weekly jobless claims and the Chicago Federal Reserve's national activity index for June, both at 8:30 am ET.

The S&P Global flash manufacturing and services purchasing managers' index estimates for July are due to be released at 9:45 am ET, followed by new home sales data for June at 10:00 am ET, weekly natural gas stocks inventory data at 10:30 am ET and the Kansas City Fed's manufacturing reading for July at 11:00 am ET.

Federal Reserve officials remain in their 'quiet period' through the July 29-30 Federal Open Market Committee meeting.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD fell to 1.1745 from 1.1773 at the Wednesday US close but was above a level of 1.1726 at the same time Wednesday morning. Eurozone manufacturing PMI improved modestly in July but remained below the breakeven point while the services PMI indicated faster expansion, according to preliminary data released earlier Thursday. The European Central Bank's rate announcement is expected at 8:15 am ET, when no change in interest rates is expected. A press conference follows at 8:45 am ET.

GBP/USD fell to 1.3539 from 1.3582 at the Wednesday US close and was roughly in line with a level of 1.3438 at the same time Wednesday morning. UK manufacturing PMI still indicated contraction in July despite a small improvement while the services PMI pointed to slower expansion, according to preliminary data released earlier Thursday. The next Bank of England meeting is scheduled for Aug. 7.

USD/JPY rose to 146.5402 from 146.5349 at the Wednesday US close and 146.2644 at the same time Wednesday morning. Japanese manufacturing PMI declined back below the breakeven point in July while the services reading indicated faster expansion, preliminary data released overnight showed. The next Bank of Japan meeting is scheduled for July 30-31.

USD/CAD rose to 1.3616 from 1.3596 at the Wednesday US close and 1.3584 at the same time Wednesday morning. Canadian manufacturing and retail sales data for May are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for July 30.