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The markets have moved very little today as investors contemplate the next steps in the tariff battle between the US and China. Even the EU response, with tariffs to follow on Harleys, Levis and Bourbon, did little to stir a response.
The NAB Cashless Retail Sales Index gained 0.8% in May on a month-on-month basis, following a flat read in April (revised from -0.6%).
Equities, currencies, bonds and commodities all reacted to more rhetoric from President Trump about Chinese tariffs.
There’s been very little movement in anything overnight, except the price of oil.
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