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US Dollar Rises Early Thursday Before Weekly Jobless Claims, Chicago Fed National Index

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The US dollar rose against its major trading partners early Thursday, except for a decline against the Canadian dollar, ahead of the release of weekly jobless claims and the Chicago Federal Reserve's national index for June, both at 8:30 am ET.

Weekly natural gas stocks are due to be released at 10:30 am ET, followed by the Kansas City Fed's manufacturing index for July at 11:00 am ET.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD fell to 1.1405 from 1.1411 at the Wednesday US close but was up slightly from a level of 1.1404 at the same time Wednesday morning. No change in the European Central Bank's policy rate is expected when its statement is released at 8:15 am ET. Eurozone consumer confidence data for July follows at 10:00 am ET.

GBP/USD fell to 1.3367 from 1.3374 at the Wednesday US close and 1.3370 at the same time Wednesday morning. UK car registrations growth accelerated in June while manufacturing sector expectations remained negative in July, according to data released earlier Thursday. The next Bank of England meeting is scheduled for July 30.

USD/JPY rose to 163.3820 from 163.1497 at the Wednesday US close and 163.0341 at the same time Wednesday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for July 30-31.

USD/CAD fell to 1.4080 from 1.4085 at the Wednesday US close and 1.4097 at the same time Wednesday morning. Canadian retail sales data for May are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for Sept. 2.

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