On the data front, at 12:00 GMT, the German PPI figures for November were released, showing a rise to 0.2%, against the expected 0.1%, providing support for the Euro. At 14:00 GMT, the German IFO Business Climate for December came in, showing a rise to 92.1, against the projected 90.2, also boosting the Euro, and capping any further losses in the EUR/USD pair. The Current Account Balance from the Eurozone for September showed a surplus of 26.6B, against the exepectations of 22.6B, supporting the single currency Euro. At 18:54 GMT, the Belgian NBB Business Climate for December came in at -8.4, against the projected -12.4, also boosting the Euro and limiting the downward momentum of the EUR/USD pair.

From the US side, at 20:00 GMT, the CB leading Index for November was released, indicating an increase to 0.6%, against the estimated 0.4%, which supported the US dollar and weighed on the EUR/USD pair. The weekly outlook for the EUR/USD pair remains bullish, as the pair continued to rise throughout the week for many reasons, including the declining US dollar, amid the rising hopes for additional financial aid from Congress, vaccine rollouts and the rising hopes of a Brexit deal.