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US Dollar Falls Early Thursday Ahead of Jobless Claims, Factory Orders, Natural Gas Stocks

BY MT Newswires | ECONOMIC | 12/04/25 07:44 AM EST

07:44 AM EST, 12/04/2025 (MT Newswires) -- The US dollar fell against its major trading partners early Thursday, except for a gain versus the Canadian dollar, ahead of the release of weekly jobless claims at 8:30 am ET, delayed factory orders data for September at 10:00 am ET, and weekly natural gas stock inventory data at 10:30 am ET.

The Atlanta Federal Reserve is expected to update its gross domestic product Nowcast estimate for Q3 around midday and Fed Vice Chair for Supervision Michelle Bowman is due to speak at 12:00 pm ET on banking supervision.

Earlier Thursday, outplacement firm Challenger, Gray & Christmas said companies planned to cut 71,321 jobs in November, led by the telecommunications and technology sectors, down from 153,074 in October but above a level of 57,727 in the same month a year ago.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD rose to 1.1679 from 1.1666 at the Wednesday US close and 1.1665 at the same time Wednesday morning. The Eurozone's construction purchasing managers' index rose modestly in November but still indicated contraction, while eurozone retail sales were flat in October, lifting the year-over-year rate, according to data released earlier Thursday. European Central Bank policy board member Philip Lane is due to speak at 10:00 am ET, followed ECB Vice President Luis de Guindos at 1:00 pm ET. The next European Central Bank meeting is scheduled for Dec. 18.

GBP/USD rose to 1.3353 from 1.3348 at the Wednesday US close and 1.3296 at the same time Wednesday morning. The UK's construction PMI declined in November while UK car registrations increased in November, but the year-over-year rate turned negative, according to data released earlier Thursday. The next Bank of England meeting is scheduled for Dec. 18.

USD/JPY fell to 154.5559 from 155.2310 at the Wednesday US close and 155.3943 at the same time Wednesday morning. There were no Japanese data releases overnight. The next Bank of Japan meeting is scheduled for Dec. 18-19.

USD/CAD rose to 1.3969 from 1.3950 at the Wednesday US close and 1.3943 at the same time Wednesday morning. The Canada IVEY purchasing managers' survey for November is due to be released at 10:00 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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