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US Dollar Falls Early Thursday Ahead of Jobless Claims, PPI, Natural Gas Stocks Inventory Data
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US Dollar Falls Early Thursday Ahead of Jobless Claims, PPI, Natural Gas Stocks Inventory Data
Feb 13, 2025 5:18 AM

07:53 AM EST, 02/13/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Thursday, except for a gain versus the Canadian dollar, before a pair of economic data releases at 8:30 am ET -- weekly jobless claims and producer prices for January.

Weekly natural gas stocks inventory data follow at 10:30 am ET.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD rose to 1.0393 from 1.0392 at the Wednesday US close and 1.0376 at the same time Wednesday morning. Eurozone industrial production declined more than expected in December according to data released earlier Thursday. The next European Central Bank meeting is scheduled for March 5-6.

GBP/USD rose to 1.2462 from 1.2446 at the Wednesday US close and 1.2454 at the same time Wednesday morning. The UK's gross domestic product growth rose more than expected in December from November and posted a modest year-over-year gain in Q4, while UK consumer sentiment slipped in February, according to data released earlier Thursday. The next Bank of England meeting is scheduled for March 20.

USD/JPY fell to 153.8153 from 154.4230 at the Wednesday US close but was up from a level of 153.6341 at the same time Wednesday morning. Japan's producer price index rose as expected in January, lifting the year-over-year rate, according to data released overnight. The next Bank of Japan meeting is scheduled for March 18-19.

USD/CAD rose to 1.4293 from 1.4284 at Wednesday US close but was below a level of 1.4297 at the same time Wednesday morning. There are no Canadian data on Thursday's schedule. The next Bank of Canada meeting is scheduled for March 12.

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