07:55 AM EDT, 10/30/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Thursday, except for a decline versus the euro, before a light data schedule that includes only weekly natural gas stocks at 10:30 am ET.

A day after the Federal Open Market Committee lowered its target federal funds rate by 25 basis points with two divergent dissents and to end its quantitative tightening program, Federal Reserve Vice Chair for Supervision Michelle Bowman is due to speak at 9:55 am ET, followed by Dallas Fed President Lorie Logan at 1:20 pm ET.

Fed Chair Jerome Powell said Wednesday a further rate reduction in December is "far" from a foregone conclusion and that the lack of government data may mean that the FOMC will need to move more cautiously.

Weekly jobless claims and the first estimate of Q3 gross domestic product will not be released due to the ongoing government shutdown.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD rose to 1.1606 from 1.1600 at the Wednesday US close but was below a level of 1.1647 at the same time Wednesday morning. The European Central Bank is expected to hold rates steady in its policy statement due to be released at 9:15 am ET. Eurozone consumer confidence fell in October while Eurozone Q3 GDP rose more than expected, according to data released earlier Thursday.

GBP/USD fell to 1.3181 from 1.3195 at the Wednesday US close and 1.3218 at the same time Wednesday morning. There are no UK data on Thursday's schedule. The next Bank of England meeting is scheduled for Nov. 6.

USD/JPY rose to 153.9259 from 152.8064 at the Wednesday US close and 152.2808 at the same time Wednesday morning. The Bank of Japan held its policy rate steady in its policy announcement released Wednesday evening US time and cited uncertainty due to trade policy. The next Bank of Japan meeting is scheduled for Dec. 18-19. There were no Japanese data released overnight.

USD/CAD rose to 1.3969 from 1.3948 at the Wednesday US close and 1.3946 at the same time Wednesday morning. The Bank of Canada lowered its target rate by 25 basis points Wednesday, as expected, and said that the new policy rate is appropriate to keep inflation near 2%, suggesting no need to cut further. The next Bank of Canada meeting is scheduled for Dec. 10. Canadian average weekly earnings data for August are due to be released at 8:30 am ET.