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US Dollar Rises Early Friday Ahead of S&P Global Manufacturing Data

BY MT Newswires | ECONOMIC | 01/02/26 07:36 AM EST

07:36 AM EST, 01/02/2026 (MT Newswires) -- The US dollar rose against its major trading partners early Friday as markets emerge from the New Year's Day holiday into another light data schedule.

The only releases on the calendar are the S&P Global manufacturing purchasing managers' index report for December at 9:45 am ET and an expected update to the St. Louis Federal Reserve's gross domestic product Nowcast measure for Q4 around midday.

Next week's schedule brings a resumption of activity, with the December employment report Jan. 9 the highlight.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD fell to 1.1725 from 1.1738 at the Wednesday US close and 1.1754 at the same time Wednesday morning. The Eurozone's manufacturing PMI declined in December to indicate more widespread contraction, according to data released earlier Friday. The next European Central Bank meeting is scheduled for Feb. 5.

GBP/USD fell to 1.3449 from 1.3455 at the Wednesday US close and 1.3455 at the same time Wednesday morning. UK home prices declined in December, slowing the year-over-year rate, while the UK's manufacturing PMI decreased in December but still indicated modest expansion, according to data released earlier Friday. The next Bank of England meeting is scheduled for Feb. 5.

USD/JPY rose to 156.9231 from 156.8522 at the Wednesday US close and 156.6151 at the same time Wednesday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for Jan. 23.

USD/CAD rose to 1.3724 from 1.3722 at the Wednesday US close and 1.3698 at the same time Wednesday morning. Canadian manufacturing PMI data for December are due to be released at 9:30 am ET. The next Bank of Canada meeting is scheduled for Jan. 28.

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

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