The EUR to SAR exchange rate is currently range-bound.
Key drivers include:
- The European Central Bank's decision to maintain interest rates while revising growth forecasts could support the euro.
- Oil prices have been volatile, trading significantly below their average, which may impact the euro’s strength against the riyal.
- Positive macroeconomic indicators, such as improved consumer confidence in Germany, may further bolster the euro.
Expect the trading range to remain stable, oscillating around current levels in the next few months.
An upside risk for the euro could be stronger-than-expected economic data from the Eurozone, signaling economic resilience. Conversely, a downside risk may arise from geopolitical tensions impacting the energy market, which could undermine confidence in the euro.
Currently, the EUR is trading slightly above its three-month average, indicating a relatively stable environment with limited volatility anticipated in the near term.