The European currency extended its 2-day losing streak against the US dollar in early European deals on Monday, falling back to below the key 1.29 level for the first time since April 4.
The euro-buck pair thus depreciated by more than 2.6 percent from its peak 1.3242 hit on 1 May, to reach as low as 1.2891 around 3:05 am ET. The next major support for the pair is seen around the 1.28 level.
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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.