Economy update
Today is Liberation Day deadline and the beginning of higher US tariffs on steel and aluminium imports. Eurozone business activity hardly changed in May, chiefly because the service sector shrank for the first time in 8 months. The HCOB Eurozone Composite PMI index fell to 50.2 in May from 50.4 in April. The afternoon will see US ADP Employment and non-manufacturing data release together with the rate decision from the Bank of Canada. European equities are crawling higher with the dollar unchanged and gold also slightly up.
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