SAR/EUR Exchange rate

EUR/USD stretches higher above 1.0500 in the European session on Thursday amid a broad US Dollar retreat. However, the upside could be capped amid expectations for more ECB rate cuts in 2025. ECB policy announcements and Lagarde's press conference are on tap. 

GBP/USD recovers its recent losses and heads toward 1.2800 in the European morning on Thursday. The pair bounces as the US Dollar corrects downwards after breaking its four-day winning streak despite higher US Treasury yields. Focus shifts to US PPI and Jobless Claims data. 

Gold price seems to have stabilized following good two-way price swings and trades around the $2,720 area during the early European session, just below the highest level in more than a month touched earlier this Thursday.

Following Thursday's quarterly monetary policy assessment, the Swiss National Bank (SNB) cut the benchmark Sight Deposit Rate by 50 basis points (bps) to 0.50% from 1.00%.

Bitcoin price hovers around $98,400 on Wednesday after declining 4.47% since Monday. Microsoft shareholders rejected the proposal to add Bitcoin to the company’s balance sheet on Tuesday.