The EUR/USD pair put a halt to its advance and closed the week in the red, around the 1.1700 figure. The decline was the result of a dismal market’s mood, fueled by different pandemic-related developments.

Two steps forward, one step back – in both Brexit and US fiscal stimulus talk has left GBP/USD marginally lower in a week full of contradictory reports. 

The US government was the major player in the currency markets this week as the White House withdrawal from stimulus talks on Tuesday sent the markets fleeing to the dollar and then renewed negotiations on Thursday and Friday reversed the issue.

The AUD/USD pair ends the week with modest losses, below 0.7100 but above the previous weekly low at 0.7005. The aussie has been quite resilient to the dominant risk-averse sentiment and the related dollar’s demand. 

A bearish wave swept through the cryptocurrency market like a tsunami on Friday, leaving most cryptoassets in the red. Bitcoin, as reported, plummeted to $11,200 after losing $300 in a matter of minutes. 

The troy ounce of the precious metal lost nearly $30 on Tuesday and struggled to recover those losses in the remainder of the week. Although XAU/USD closed in the positive territory on Wednesday and Thursday, it failed to preserve its bullish momentum turned south on Friday.