US Dollar Falls Early Friday Ahead of Light Data Release Schedule

The US dollar fell against its major trading partners early Friday, with only an update to the St. Louis Federal Reserve's GDP nowcast estimate for Q2 around midday on the schedule. Next week's release schedule will be relatively busy, highlighted by inflation and retail sales data for June and the Fed's Beige Book report. A quick summary of foreign exchange activity heading into Friday: EUR/USD rose to 1.1431 from 1.1428 at the Thursday US close and 1.1423 at the same time Thursday morning. There are no Eurozone data on Friday's schedule. The next European Central Bank meeting is scheduled for July 23. GBP/USD rose to 1.3429 from 1.3408 at the Thursday US close and 1.3391 at the same time Thursday morning. There are no UK data on Friday's schedule. The next Bank of England meeting is scheduled for July 30. USD/JPY fell to 161.7582 from 162.3885 at the Thursday US close and 162.4972 at the same time Thursday morning. Japanese producer prices rose more than expected in June, lifting the year-over-year rate, while Japanese consumer sentiment increased in July, according to data released overnight. The next Bank of Japan meeting is scheduled for July 30-31. USD/CAD fell to.