The European currency extended previous session's rally against the dollar in early deals on Thursday. The common currency climbed to 1.2997 against the dollar around 5:50 am ET, its strongest level since May 23.
The euro-greenback pair is set to pierce the key 1.30 level in the near-term and a move beyond this mark could help the pair re-visit the 1.3030 resistance 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.