The euro lost ground against its major trading partners in the European session on Thursday, after European Central President Christine Lagarde struck a cautious tone on the euro area economy, saying that inflation remained subdued and the weakness in the manufacturing sector posed a drag on growth momentum.
In her press conference in Frankfurt, Lagarde said that recent data were in line with the baseline scenario of ongoing, but moderate, growth of the euro area economy. The weakness in the manufacturing sector remained a drag on euro area growth momentum.
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Business 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.