The Australian dollar strengthened against the U.S. dollar and the euro in the early European session on Friday.
The aussie that fell to an early low of 1.3058 against the euro and a multi-month low of 1.0258 against the greenback reversed and is now trading at 1.2986 and 1.0337, respectively. The next upside target level for the aussie is seen at 1.285 against the euro and 1.04 against the greenback.
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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.