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US Dollar Rises Early Friday Ahead of Chicago PMI, Fed Speeches

BY MT Newswires | ECONOMIC | 10/31/25 07:59 AM EDT

07:59 AM EDT, 10/31/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Friday, except for a decline versus the euro, before another light data schedule that includes only the Chicago purchasing managers' index report for October at 9:45 am ET and an update to the Atlanta Federal Reserve's gross domestic product Nowcast estimate around midday.

Dallas Fed President Lorie Logan is due to speak at 9:30 am ET, followed by Atlanta Fed President Raphael Bostic at 12:00 pm ET.

Personal income and spending data for September and the Q3 Employment Cost Index for Q3 will not be released due to the government shutdown.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD rose to 1.1571 from 1.1564 at the Thursday US close but was below a level of 1.1607 at the same time Thursday morning. The European Central Bank held its policy rate steady at its meeting Thursday, noting inflation is close to its 2% target, but said there is uncertainty in the outlook due to global trade tensions. The next European Central Bank meeting is scheduled for Dec. 18. Eurozone consumer prices rose at a faster pace in October than in the previous month, according to data released earlier Friday.

GBP/USD fell to 1.3136 from 1.3145 at the Thursday US close and 1.3180 at the same time Thursday morning. The UK home price index rose faster than expected in October, lifting the year-over-year rate, according to data released overnight. The next Bank of England meeting is scheduled for Nov. 6.

USD/JPY rose to 154.1280 from 154.0631 at the Thursday US close and 153.9322 at the same time Thursday morning. Tokyo core consumer prices, an early indicator of Japan's consumer price index, rebounded in October after a decline in the previous month, lifting the year-over-year rate, while Japanese retail sales at large stores rose in September after an August drop, data released overnight showed. The next Bank of Japan meeting is scheduled for Dec. 18-19.

USD/CAD rose to 1.4011 from 1.3988 at the Thursday US close and 1.3969 at the same time Thursday morning. Canadian weekly earnings for August and GDP for September are due to be released at 8:30 am ET, followed by the Canadian budget balance for August at 11:00 am ET. The next Bank of Canada meeting is scheduled for Dec. 10.

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

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