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US Dollar Rises Early Thursday Ahead of Busy Economic Data Schedule

BY MT Newswires | ECONOMIC | 07:41 AM EDT

07:41 AM EDT, 05/28/2026 (MT Newswires) -- The US dollar rose against its major trading partners early Thursday, except for a decline versus the yen, ahead of a busy day of economic data releases, starting with weekly jobless claims, the second look at Q1 GDP, and durable goods and personal income and spending data for April, all at 8:30 am ET.

New York Federal Reserve President John Williams is due to speak at 8:55 am ET, followed by new-home sales data for April at 10:00 am ET and an appearance by St. Louis Fed President Alberto Musalem at 10:15 am ET.

Weekly natural gas stocks are due to be released at 10:30 am ET, followed by weekly petroleum stocks data at 12:00 pm ET and an update to the Atlanta Fed's GDP nowcast estimate for Q2 around midday.

A quick summary of foreign exchange activity heading into Thursday:

EUR/USD fell to 1.1607 from 1.1628 at the Wednesday US close and 1.1639 at the same time Wednesday morning. Eurozone consumer confidence improved in May but remained pessimistic, while business sentiment was little changed, just below the breakeven point, according to data released overnight. European Central Bank President Christine Lagarde, in a speech overnight, raised concerns that central bank independence remains at risk, yet remains key. The next European Central Bank meeting is scheduled for June 11.

GBP/USD fell to 1.3398 from 1.3430 at the Wednesday US close and 1.3440 at the same time Wednesday morning. There are no UK data on Thursday's schedule. The next Bank of England meeting is scheduled for June 18.

USD/JPY fell to 159.4453 from 159.5459 at the Wednesday US close but was above a level of 159.4051 at the same time Wednesday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for June 15-16.

USD/CAD rose to 1.3855 from 1.3832 at the Wednesday US close and 1.3834 at the same time Wednesday morning. Canadian current account data for Q1 and average weekly earnings for March are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for June 10.

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

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