* U.S. private sector jobs data show lower-than-expected increase
* U.S. services sector data shows recovery in May
* Bank of Canada cuts rates by 25 basis points
* Focus on ECB meeting, U.S. nonfarm payrolls report
(Recasts, adds new comment, bullets, byline, NEW YORK dateline, ADP
report, ISM services data, FX table, updates prices)
By Gertrude Chavez-Dreyfuss and Stefano Rebaudo
NEW YORK/MILAN, June 5 (Reuters) – The U.S. dollar rose on
Wednesday after data showed the services sector in the world’s largest
economy rebounded in May after a contraction the month before,
highlighting uncertainty surrounding the expected start of the Federal
Reserve’s easing cycle later this year.
The Institute for Supply Management said its nonmanufacturing
purchasing managers index
rose to 53.8
last month from 49.4 in April. May’s reading, the highest…
