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US Dollar Rises Early Friday Ahead of Personal Income, Spending, Advance Trade

BY MT Newswires | ECONOMIC | 08/29/25 07:42 AM EDT

07:42 AM EDT, 08/29/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Friday, except for a decline versus the Canadian dollar, ahead of a busy day of economic releases before the long holiday weekend.

Personal income, spending, price and advance trade data for July are due to be released at 8:30 am ET, followed by the Chicago purchasing managers' index report for August at 9:45 am ET.

The final University of Michigan consumer sentiment reading for August is due at 10:00 am ET and the Kansas City Federal Reserve is scheduled to release its services estimate for August at 11:00 am ET.

The Atlanta and St. Louis Fed banks are expected to update their gross domestic product growth Nowcast estimates for Q3 around midday.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD fell to 1.1669 from 1.1683 at the Thursday US close but was slightly above a level of 1.1667 at the same time Thursday morning. There are no Eurozone data on Friday's schedule. The next European Central Bank meeting is scheduled for Sept. 11.

GBP/USD fell to 1.3461 from 1.3512 at the Thursday US close and 1.3520 at the same time Thursday morning. There are no UK data on Friday's schedule. The next Bank of England meeting is scheduled for Sept. 18.

USD/JPY rose to 147.1799 from 146.9242 at the Thursday US close and 146.9224 at the same time Thursday morning. Tokyo consumer price growth, an early indicator of the overall Japanese consumer price index, slowed on a year-over-year basis in August, while Japanese retail sales and unemployment both declined in July, according to data released overnight. Later, Japanese household confidence data for August showed modest improvement. The next Bank of Japan meeting is scheduled for Sept. 18-19.

USD/CAD fell to 1.3751 from 1.3754 at the Thursday US close and 1.3762 at the same time Thursday morning. Canadian GDP data for Q2 are due to be released at 8:30 am ET, followed by the Canadian Treasury's budget balance for June at 11:00 am ET. The next Bank of Canada meeting is scheduled for Sept. 17.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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