The EUR/USD pair has recovered some ground Friday, ending the week with modest gains at around 1.1050. The American dollar extended its slide as speculative interest couldn’t find a reason to keep on buying it.
The GBP/USD pair hit a daily high of 1.2918 on Friday, boosted by news indicating that the Brexit Party has decided to step down from 43 additional constituencies where Labour won, facilitating the way for a Conservative majority.
The precious metal struggled to find demand on Friday as the upbeat market mood on renewed hopes of the United States and China reaching a trade deal to avoid a tariff hike in December caused investors to move away from safe havens.
Crude oil prices remained under modest selling pressure throughout the week as they failed to capitalize on the Organization of the Petroleum Exporting Countries' (OPEC) upbeat demand growth outlook and expectations for additional supply cuts in December.