The euro depreciated against its key counterparts in the European session on Thursday, after the European Central Bank President Mario Draghi indicated that recent weak economic data justified that the central bank was appropriate to announce a raft of stimulus measures last month.
In his press conference in Frankfurt, Draghi said that the incoming data since the last meeting confirmed the previous assessment of a protracted weakness in euro area growth momentum, the persistence of prominent downside risks and muted inflation pressures.
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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.