Analyzes

The EUR/USD pair turned south and closed the week below the 1.1700 mark, further retreating from the yearly peak set mid-September at 1.1918.

The Pound Sterling (GBP) reversed early recovery gains and turned negative on the week against the US Dollar (USD), smashing GBP/USD to seven-week lows below 1.3350.

Gold (XAU/USD) touched a new record-high near $3,790 before correcting lower. Investors will scrutinize high-tier data releases from the United States to decide whether XAU/USD’s rally could continue in the near term. 

The USD/CAD pair prolongs its uptrend for the fifth consecutive day – also marking the seventh day of a positive move in the previous eight – and trades near its highest level since May 20, around mid-1.3900s during the early European session on Friday.

GBP/USD came under heavy bearish pressure and dropped to its lowest level since early August below 1.3330. Although the pair clings to modest gains near 1.3350 in the European morning on Friday, it could have a difficult time gathering recovery momentum in the short term.

USD/MXN rallies to 18.50 on strong US GDP data, with resistance in play as traders watch for exhaustion and potential pullbacks toward 18.20.