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US Dollar Falls Early Friday Ahead of Michigan Consumer Sentiment, St. Louis Gross Domestic Product Estimate

BY MT Newswires | ECONOMIC | 02/06/26 07:57 AM EST

07:57 AM EST, 02/06/2026 (MT Newswires) -- The US dollar fell against its major trading partners early Friday ahead of the release of the University of Michigan's preliminary consumer sentiment index for February at 10:00 am ET, followed by the St. Louis Federal Reserve's latest gross domestic product Nowcast estimate for Q4 around midday.

Fed Vice Chair Philip Jefferson is due to speak at 12:00 pm ET and consumer credit data for December are set to be released at 3:00 pm ET.

The January nonfarm payrolls employment report, originally due to be released Friday, was rescheduled to Feb. 11 due to the partial government shutdown earlier in the week.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD rose to 1.1792 from 1.1781 at the Thursday US close but was below a level of 1.1795 at the same time Thursday morning. There are no Eurozone data on Friday's schedule. The European Central Bank maintained its policy target rate Thursday, saying inflation remains on track to stabilize and decisions remain data dependent. The next European Central Bank meeting is scheduled for March 19.

GBP/USD rose to 1.3588 from 1.3539 at the Thursday US close and 1.3566 at the same time Thursday morning. UK home prices rebounded more than expected in January, lifting the year-over-year rate, data released overnight showed. The next Bank of England meeting is scheduled for March 19.

USD/JPY fell to 157.0283 from 157.0475 at the Thursday US close and 157.2031 at the same time Thursday morning. Japanese household spending declined in December while Japanese leading indicators rose in January, according to data released overnight. The next Bank of Japan meeting is scheduled for March 18-19.

USD/CAD fell to 1.3680 from 1.3695 at the Thursday US close and 1.3688 at the same time Thursday morning. The Canadian leading index rose slightly in January, data released earlier Friday showed. Canadian employment data for January are due to be released at 8:30 am ET, followed by the Canadian IVEY purchasing managers' index for January at 10:00 am ET. 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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