France Business Climate Indicator (06.45 GMT): Business activity in the Eurozone touched a three-year high in the April flash estimate of Markit’s Composite PMI. The upbeat report doesn’t remove the deflation threat that’s still stalking the Eurozone although the latest survey numbers suggest that the overall risk may be receding. In fact, the latest Markit report strengthens the argument in some circles that lower inflation in Europe is actually a plus because it promotes competitiveness in the business sector in the global marketplace. "You may even say this is good deflation as it goes hand in hand with a ... (full story)