08:11 AM EST, 01/09/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Thursday before a light data schedule but a busy day of appearances by Federal Reserve officials.

The US Government and stock markets are closed for the National Day of Mourning for the funeral of former President Jimmy Carter.

Outplacement firm Challenger, Gray & Christmas reported Thursday morning that that layoff intentions declined in December from November but were higher than a year ago. Total layoffs in 2024 were the highest since the COVID year of 2020, led by the technology sector.

Annual revision to the Philadelphia Fed manufacturing index are due at 8:30 am ET, followed by an update to the Atlanta Fed's GDP nowcast index around midday and the NFIB's employment reading for December at 1:00 pm ET.

Philadelphia Fed President Patrick Harker is due to speak at 9:00 am ET, followed by Richmond Fed President Tom Barkin at 12:40 pm ET, Kansas City Fed President Jeffrey Schmid at 1:30 pm ET and Fed Governor Michelle Bowman at 1:35 pm ET. Schmid and Bowman vote on the Federal Open Market Committee in 2025.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD fell to 1.0303 from 1.0316 at the Wednesday US close but was up from 1.0294 at the same time Wednesday morning. Eurozone retail sales rebounded less than expected in November after a decline in October, according to data released earlier Thursday. The next European Central Bank meeting is scheduled for Jan. 30.

GBP/USD fell to 1.2292 from 1.2363 at the Wednesday US close and 1.2345 at the same time Wednesday morning. UK consumer sentiment improved in January according to data released earlier Thursday. The next Bank of England meeting is scheduled for Feb. 6.

USD/JPY fell to 157.77 from 158.3652 at the Wednesday US close and 158.4894 at the same time Wednesday morning. Japanese wage growth accelerated in November according to data released overnight. The next Bank of Japan meeting is scheduled for Jan. 23-24.

USD/CAD rose to 1.4393 from 1.4382 at the Wednesday US close but was below a level of 1.4397 at the same time Wednesday morning. There are no Canadian data on Thursday's schedule. The next Bank of Canada meeting is scheduled for Jan. 29.