07:57 AM EDT, 05/16/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Thursday, except for a decline versus the yen, before another busy data calendar, starting with weekly jobless claims, housing starts and import prices for April and the Philadelphia Federal Reserve's manufacturing reading for May, all at 8:30 am ET.

Industrial production data for April is set to be released at 9:15 am ET, followed by weekly natural gas stocks at 10:30 am ET and an update to the Atlanta Fed's gross domestic product Nowcast measure around midday.

Fed Vice Chair for Supervision Michael Barr is due to begin his second day of testimony at 10:00 am ET, followed by Philadelphia Fed President Patrick Harker at 10:30 am ET, Cleveland Fed President Loretta Mester at 11:30 am ET and Atlanta Fed President Raphael Bostic at 3:50 pm ET. All but Harker vote on the Federal Open Market Committee in 2024.

A quick summary of foreign exchange activity heading into Thursday:

EUR-USD fell to 1.0873 from 1.0883 at the Wednesday US close but was up from a level of 1.0825 at the same time Wednesday morning. There are no Eurozone data on Thursday's schedule. The next European Central Bank meeting is scheduled for June 6.

GBP-USD fell to 1.2674 from 1.2680 at the Wednesday US close but was up from 1.2607 at the same time Wednesday morning. There are no UK data on Thursday's schedule. The next Bank of England meeting is scheduled for June 20.

USD-JPY fell to 154.7023 from 154.9728 at the Wednesday US close and 155.6154 at the same time Wednesday morning. Japanese GDP contracted in Q1 compared with both Q4 and a year earlier, while Japanese industrial production rebounded in March, data released overnight showed. The next Bank of Japan meeting is scheduled for June 13-14.

USD-CAD rose to 1.3632 from 1.3603 at the Wednesday US close but was down slightly from a level of 1.3634 at the same time Wednesday morning. There are no Canadian data on Thursday's schedule. The next Bank of Canada meeting is scheduled for June 5.