Video released from the start of the fire
An enormous fire at the storage facilities of a Tehran refinery on the same day as a fire sank an Iran navy ship sparked speculation about sabotage. It was heightened because Iran is deep in nuclear negotiations.

G7 strikes deal
G7 finance ministers in London agreed on the outline of a global deal on taxation that would set a floor for corporate rates around the world. The group will now take the deal to the G20, where an agreement could come as soon as next month.

Forex news for North American trading on June 4, 2021
The US employment report showed a gain of 559K (with revisions of +27K) but that was not enough to satisfy those looking for tapering sooner rather than later. The expectations was for 675K (with the whisper levels likely higher than that given the tepid 266K – revised to 278K – last month). 

All major indices higher
A look at the closes shows:

The biggest gain or of the Dow 30 was salesforce with a gain of 2.28%.
The biggest loser in the Dow 30 was Travelers at -0.63%.

Weekly futures forex positioning data from the CFTC
– EUR long 109K vs 104K long last week. Longs increased by 5K
– GBP long 24K vs 31K long last week. Longs trimmed by 7K

Forex news from the European trading session – 4 June 2021
Headlines:
Markets:
– JPY leads, CAD lags on the day
– European equities flattish, US futures little changed

The Fed isn’t giving any extra clues on tapering before the June meeting
Powell’s appearance today relates more to climate change and there aren’t any other speakers on the agenda before the blackout period begins tomorrow.

Remarks by Fed chair Powell at the BIS panel on climate change
So far nothing monetary policy-specific, and I wouldn’t expect there to be any given the backdrop of the event. Likewise, ECB president Lagarde and PBOC governor Yi Gang are also mostly commenting with regards to climate change policy for now.

The good times are slowly coming back
The German state of Bavaria has said that they will allow up to 14,000 fans to attend Euro 2020 football matches in Munich. That’s a positive step towards the summer reopening as .

Falling out of love?
Cryptocurrencies are not having a good day so far following Elon Musk’s cryptic „heartbreak“ tweet involving Bitcoin earlier in the day .