08:04 AM EST, 11/06/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Thursday ahead of the release of natural gas stocks at 10:30 am ET and an update to the Atlanta Federal Reserve's gross domestic product Nowcast around midday.

New York Fed President John Williams is due to speak at 11:00 am ET, at the same time as Fed Governor Michael Barr, followed by an appearance by Fed Governor Christopher Waller at 3:30 pm ET.

Earlier Thursday, outplacement firm Challenger, Gray & Christmas reported that layoff intentions surged in October due to cost-cutting and an increased use of AI, while hiring plans for the year continues to lag behind the year-ago pace, including for seasonal hiring.

Weekly jobless claims, the preliminary estimate of Q3 productivity and wholesale inventory data for September will not be released due to the government shutdown.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD rose to 1.1521 from 1.1488 at the Wednesday US close and 1.1490 at the same time Wednesday morning. Eurozone retail sales declined in September, lowering the year-over-year rate, while the Eurozone's construction purchasing managers' index declined in October, according to data released earlier Thursday. European Central Bank Vice President Luis de Guindos said overnight that the ECB will need to closely monitor inflation expectations after recent increases. ECB member Philip Lane is due to speak at 1:30 pm ET. The next European Central Bank meeting is scheduled for Dec. 18.

GBP/USD rose to 1.3076 from 1.3050 at the Wednesday US close and 1.3041 at the same time Wednesday morning. The Bank of England maintained its policy rate at its meeting Thursday, as expected, but the vote was split with five votes for no change and four votes for a rate cut. The next Bank of England meeting is scheduled for Dec. 18. Earlier Thursday, UK construction PMI declined in October to indicate faster contraction.

USD/JPY fell to 153.6989 from 154.1100 at the Wednesday US close but was above a level of 153.6669 at the same time Wednesday morning. Japanese services PMI declined modestly in October but remained above the breakeven point, while Japanese wage income growth accelerated in September, according to data released overnight. The next Bank of Japan meeting is scheduled for Dec. 18-19.

USD/CAD fell to 1.4098 from 1.4108 at the Wednesday US close and 1.4131 at the same time Wednesday morning. The Canadian leading index rose modestly in October according to data released earlier Thursday. Bank of Canada Deputy Governor Toni Gravelle is due to speak at 8:50 am ET, followed by the Canada IVEY PMI release for October at 10:00 am ET and an appearance by Bank of Canada Governor Tiff Macklem at 10:30 am ET. The next Bank of Canada meeting is scheduled for Dec. 10.