07:47 AM EST, 01/16/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Thursday, except for a decline versus the yen, ahead of an extremely busy schedule of economic data releases.

Thursday's schedule starts with weekly jobless claims, retail sales and import prices for December and the New York Federal Reserve's services reading and the Philadelphia Fed's manufacturing index, both for January, all released at 8:30 am ET.

Business inventory data for December and the National Association of Home Builders' home builder sentiment index for January are due to be released at 10:00 am ET, followed by weekly natural gas stocks at 10:30 am ET and an update to the Atlanta Fed's gross domestic product growth Nowcast estimate around midday.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD fell to 1.0290 from 1.0296 at the Wednesday US close and 1.0302 at the same time Wednesday morning. The Eurozone trade surplus expanded more than expected in November, data released earlier Thursday showed. The next European Central Bank meeting is scheduled for Jan. 30.

GBP/USD fell to 1.2207 from 1.2243 at the Wednesday US close and 1.2225 at the same time Wednesday morning. UK GDP rose less than expected in November according to data released overnight. The next Bank of England meeting is scheduled for Feb. 6.

USD/JPY fell to 155.9543 from 156.4747 at the Wednesday US close and 156.9862 at the same time Wednesday morning. Japanese producer prices rose less than expected in December, keeping the year-over-year rate in line with the previous month, according to data released overnight. The next Bank of Japan meeting is scheduled for Jan. 23-24.

USD/CAD rose to 1.4374 from 1.4329 at the Wednesday US close and 1.4346 at the same time Wednesday morning. Canadian housing starts data for December are due to be released at 8:15 am ET, followed by new motor vehicle sales data for November at 8:30 am ET. Bank of Canada Deputy Governor Toni Gravelle is due to speak at 12:30 pm ET. The next Bank of Canada meeting is scheduled for Jan. 29.