US Treasury secretary, Janet Yellen, with pre-recorded remarks at the SelectUSA Summit
– Historic relief will restore full employment in 2022
That comment on on the labour market is interesting as it does have some connotations to the Fed timeline on tightening policy. If anything, such an outlook suggests that tapering will come by some time this

The non-farm payrolls release is quickly put in the rearview mirror
I don’t expect much reverberations in the market from the NFP release on Friday and things are keeping calmer for now.

Little going on to start the new week
Major currencies are keeping within 0.1% change against the dollar right now as we are observing a bit of a lackadaisical start to the ne week.

How are things shaping up ahead of the ECB later on Thursday?
Expectations for a lively ECB meeting has died down quite a bit but tapering of PEPP purchases is still certainly on the table. I’ll try to make this as succinct as possible.

Getting rich quick is hard
Last month I posted a about a kid who turned $400 into $190,000 in four hours. It’s a remarkable story but it’s also extremely rare.

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