The euro slipped against the American currency during early European deals on Thursday after the release of Eurozone final services PMI data for March.
The PMI index fell to 46.4 in March from 47.9 in February.
Breaching the key 1.28 mark, the euro touched 1.2785 against the greenback, its lowest since April 1. If the euro extends decline, 1.27 is seen as the next downside target level. The pair finished Wednesday's trading at 1.2850.
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.