07:55 AM EST, 02/21/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Friday before the release of S&P Global's flash purchasing managers' index estimates for February at 9:45 am ET.

The final University of Michigan consumer sentiment reading for February is due at 10:00 am ET, at the same time as existing home sales data for January.

The St. Louis Federal Reserve is expected to update its Q1 gross domestic product growth Nowcast estimate around midday and Fed Vice Chair Philip Jefferson is scheduled to speak at 11:30 am ET.

A quick summary of foreign exchange activity heading into Friday:

EUR/USD fell to 1.0467 from 1.0503 at the Thursday US close but was above a level of 1.0441 at the same time Thursday morning. Eurozone manufacturing PMI rose more than expected in February, but still indicates contraction, while services PMI unexpectedly declined to now indicate slower growth, according to data released earlier Friday. European Central Bank policy board member Philip Lane is due to speak at 9:30 am ET, followed by Eurozone consumer confidence data for February at 10:00 am ET. The next European Central Bank meeting is scheduled for March 5-6.

GBP/USD fell to 1.2641 from 1.2670 at the Thursday US close but was above a level of 1.2614 at the same Thursday morning. UK retail sales rose more than expected in January, but the year-over-year rates slowed, according to data released overnight. UK manufacturing PMI declined further below the breakeven point in February while services PMI increased to indicate faster expansion. The next Bank of England meeting is scheduled for March 20.

USD/JPY rose to 150.3777 from 149.6782 at the Thursday US close and 150.0560 at the same time Thursday morning. Japanese consumer price growth accelerated in January, while Japanese manufacturing and services PMI both increased in February, according to data released overnight. The next Bank of Japan meeting is scheduled for March 18-19.

USD/CAD rose to 1.4194 from 1.4174 at the Thursday US close but was below a level of 1.4218 at the same time Thursday morning. Canadian retail sales data for December and January are due to be released 8:30 am ET, followed by an appearance by Bank of Canada Governor Tiff Macklem at 12:30 pm ET. The next Bank of Canada meeting is scheduled for March 12.