GBP/SAR Exchange rate

EUR/USD trades on the back foot and slips back to the sub-1.1300 region on Thursday. The pair’s correction comes pari passu a rebound in the US Dollar, helped by unexpectedly solid prints from US advanced PMIs in May.

GBP/USD is having trouble extending its weekly advance, holding just above 1.3400 and rising marginally for the day. Earlier UK flash PMIs showed mixed results vs. firmer-than-estimated prints on the US calendar.

Gold continues to pull back from its nearly two-week high reached earlier on Thursday, slipping modestly to the $3,300 zone per ounce troy on the back of the decent rebound in the US Dollar. A cautious market tone, however, is somehow limiting the metal’s downside potential.

Bitcoin (BTC) enthusiasts are celebrating Bitcoin Pizza Day with a banger. BTC made a new all-time high on Wednesday and has entered price discovery mode. The OG cryptocurrency is trading above $110,000 for the first time ever.

Retail optimism is rising, but institutions are still treading carefully amid lingering macro and earnings risks. Policy and fiscal uncertainty remain elevated, with trade tensions, U.S. debt concerns, and a cautious Fed dominating the backdrop.