FxAnalysis

The US Dollar (USD) chalked up a second straight week of losses, extending its pullback from early-November highs.

The Pound Sterling (GBP) consolidated its recovery from seven-month lows against the US Dollar (USD), as GBP/USD lacked bullish conviction.

Gold (XAU/USD) gained traction and climbed to its highest level since October 21, above $4,200, after having spent the previous week in a tight consolidation channel.

The EUR/USD pair advanced for a second consecutive week, comfortably trading above the 1.1600 mark as Friday comes to an end. The US Dollar (USD) spent most of these last few days under pressure amid optimism about the United States (US) government reopening.

The euro climbed slightly on Thursday but remains in a volatile range, with continued downside risk toward 1.14 unless a breakout above 1.17 occurs.

USD/CAD continues to trade choppily near the key 1.40 level, with longer-term technicals and fundamentals hinting at a possible move toward 1.4250.