Image Source: PixabayIn a holiday-shortened week, the US dollar posted losses once again. Next week, the key report in the US will be the Core PCE. Consumer inflation data is also due in the Eurozone with the preliminary November figures. Australia is set to report the October Monthly CPI data. The Reserve Bank of New Zealand will announce its monetary policy decision. Here is what you need to know for next week.The US dollar extended its decline, and it was the weakest performer among majors this past week. The US Dollar Index (DXY) broke below 103.50, reaching the lowest level seen since mid-August. This negative momentum could persist as markets continue to focus on the Federal Reserve not raising rates further, despite divergences in economic growth.The US economy continues to grow, and is much stronger than European countries. The latest reports, the PMIs, showed the US Composite at 50.7, compared to the Eurozone Composite at 47.1.Among the most relevant reports for next week in the US are the second revision of Q3 GDP on Wednesday, the Core Personal Consumption Expenditure Price Index and Jobless Claims on Thursday, and the ISM Manufacturing on Friday. Chinese PMIs for November are also due on Thursday.The EUR/USD currency pair rose again on a weekly basis, but more gradually. The pair struggled to hold above the 1.0950 mark on Friday, but the short-term bias remained to the upside.On Wednesday, the preliminary inflation figures from Spain and Germany will show how price performance was in November. Numbers are expected to show further cooling in inflation, which would cement expectations that the European Central Bank (ECB) is done increasing interest rates further, and could fuel speculation about potential rate cuts as the Eurozone economy remains stagnant. Eurozone CPI is due on Thursday.The GBP/USD currency pair decisively broke above the 20-week Simple Moving Average (SMA), rising above 1.2600 on Friday, the highest level since late August. The bias has remained to the upside. The pound also performed strongly versus the euro, boosted by UK data. The EUR/GBP pair had its worst weekly performance since August, retreating from monthly highs to levels below the 0.8700 area.The Japanese yen was among the weakest currencies, as government bond yields rebounded from monthly lows. Higher equity prices were another reason for the decline. The USD/JPY pair looks to have created a Doji formation, with the price at the same level it was at a week ago — after a sharp rebound from the 20-week SMA near 147.00 back to the 149.50 area.The USD/CAD currency pair dropped on Friday, breaking an important support level at 1.3650. Risks appear to point to further weakness ahead. Canada will report monthly and quarterly GDP on Thursday, as well as the employment report on Friday. The improvement in risk sentiment and the weaker US dollar boosted antipodean currencies, which were the best performers during the week. The AUD/USD pair rose above the 200-day SMA on Friday, reaching the highest level in three months, moving closer to 0.6600. Australian data next week includes Retail Sales on Tuesday, and the Monthly Consumer Price Index on Wednesday.The slide in the US dollar on Friday boosted the NZD/USD duo towards the 0.6100 mark. The pair finished slightly above the 200-day SMA, maintaining a bullish tone. The Reserve Bank of New Zealand (RBNZ) will announce its monetary policy decision on Wednesday. Gold rebounded despite higher bond yields, and it managed to post weekly gains at around $2,000. However, the yellow metal remained under the key resistance area of $2,010. A potential break higher could open the door to further gains.More By This Author:EUR/JPY Sets A Late High For The Week Above 163.60 In Friday Risk Rally Silver Sees Late Jump On Friday, Touches 12-Week High At $24.30 US Dollar Sideways Ahead Of US PMI Data On This Black Friday