Brexit, phase 2

The European Council found that Brexit talks between the UK and the European Commission had advanced sufficiently to launch a new phase of negotiations.
The definitive withdrawal agreement must include the terms for the transition period as well as a policy statement defining the framework for the future trade relationship between the UK and the EU.
The EU wants a framework similar to its trade agreement with Canada, which reflects the UK's desire to leave the Single Market.
The UK wants a trade agreement that includes the services sector.

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BNP Paribas Economic Research Department is a worldwide function, part of Corporate and Investment Banking, at the service of both the Bank and its customers.

EUR/USD hits two-day highs near 1.1820

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GBP/USD reclaims 1.3600 and above

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Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

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