07:54 AM EDT, 03/20/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Thursday, except for a decline versus the yen, after the Federal Open Market Committee held rates steady at the conclusion of its two-day meeting Wednesday.

Now the focus turns to a string of data releases on Thursday, starting with weekly jobless claims, the Q4 current account and the Philadelphia Federal Reserve's manufacturing reading for March, all at 8:30 am ET.

Existing-home sales and leading indicators data for February are due at 10:00 am ET, followed by weekly natural gas stocks inventory data at 10:30 am ET.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD fell to 1.0841 from 1.0899 at the Wednesday US close and 1.0896 at the same time Wednesday morning. Eurozone construction output rose modestly in January according to data released earlier Thursday. European Central Bank President Christine Lagarde said overnight that a trade war with the US, and countermeasures from Europe, could boost inflation in the short-term and lower economic growth after, according to Reuters. The next European Central Bank meeting is scheduled for April 16-17.

GBP/USD fell to 1.2957 from 1.2997 at the Wednesday US close and 1.2965 at the same time Wednesday morning. The next Bank of England meeting is expected to maintain its policy rate when its post-meeting announcement is released at 8:00 am ET. A press conference with BoE Governor Andrew Bailey follows at 8:30 am ET. Earlier Thursday, UK average earnings growth steadied in January while the unemployment rate was unchanged from the previous month.

USD/JPY fell to 148.5619 from 148.8538 at the Wednesday US close and 148.8706 at the same time Wednesday morning. Thursday is a holiday in Japan, so there were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for April 30-May 1.

USD/CAD rose to 1.4382 from 1.4324 at the Wednesday US close and 1.4327 at the same time Wednesday morning. Canadian retail sales for January and home prices for February are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for April 16.