European Union: What future for Europe?

March 25 will mark the 60th anniversary of the signing of the Treaty of Rome. How can we celebrate this event without stopping to take stock of the obstacles now facing the European project?
The European Commission has tried to shed some light on future trends by examining five possible scenarios.
The leaders of the biggest eurozone member states already seem to have opted for a multi-speed Europe. Yet this is surely not the clearest choice for Europe's future, nor does it come without risks.
The European Commission intends to fuel debate in the months ahead, in the hopes that by the end of 2017, European executive leaders will be in a stronger position to pick a scenario and push forward European construction.

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BNP Paribas Team

BNP Paribas

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 makes a U-turn, focus on 1.1900

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GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.