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US Dollar Rises Early Thursday Before Jobless Claims, Productivity, Trade Data

BY MT Newswires | ECONOMIC | 01/29/26 07:42 AM EST

07:42 AM EST, 01/29/2026 (MT Newswires) -- The US dollar rose against its major trading partners early Thursday, except for a decline versus the Canadian dollar, before a busy day of data releases, starting with weekly jobless claims, revised Q3 productivity and trade data for November, all at 8:30 am ET.

Factory and wholesale data for November are due to be released at 10:00 am ET, followed by weekly natural gas stocks inventory data at 10:30 am ET.

The Atlanta Federal Reserve is expected to update its Q4 gross domestic product Nowcast estimate around midday.

On Wednesday the Federal Open Market Committee maintained its federal funds rate target range at 3.50% to 3.75% and made changes to its statement that were more optimistic than the previous statement.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD fell to 1.1944 from 1.1946 at the Wednesday US close and 1.1969 at the same time Wednesday morning. Eurozone consumer confidence rose in January but remained below the breakeven point, according to data released earlier Thursday. The next European Central Bank meeting is scheduled for Feb. 5.

GBP/USD fell to 1.3797 from 1.3800 at the Wednesday US close but was above a level of 1.3780 at the same time Wednesday morning. There are no UK data on Thursday's schedule. The next Bank of England meeting is scheduled for Feb. 5.

USD/JPY rose to 153.3775 from 153.3671 at the Wednesday US close and 152.5484 at the same time Wednesday morning. Japanese household confidence improved in January according to data released overnight. The next Bank of Japan meeting is scheduled for March 18-19.

USD/CAD fell to 1.3546 from 1.3558 at the Wednesday US close and 1.3560 at the same time Wednesday morning. Canadian trade and weekly earnings data, both for November, are due to be released at 8:30 am ET. The Bank of Canada maintained its current policy rate at its meeting Wednesday, as expected, but said the future path of monetary policy is uncertain. The next Bank of Canada meeting is scheduled for March 18.

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

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