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 .

Latest data released by Challenger, Gray, and Christmas Inc
– 22.91k
The 24,586 job cuts by US-based employers in May isn’t as low as the 22,913 in April but is still relatively low. That continues to reaffirm that the labour market is slowly finding its footing with the labour shortage noted last month still the key point

The US non-farm payrolls tomorrow is the key risk event this week
And we’re sitting in what seems to be a bit of a lull in the run up to the release on Friday.

But there is still seemingly some lack of conviction all around
The greenback is sitting slightly higher in European morning trade but it isn’t really pushing any fresh boundaries against the major currencies bloc.

UK labour market slowly getting back up on its feet
That will allow for the statistics to become more relevant once again in the months ahead, though it will still take time before conditions normalise further.

Latest data released by Markit/CIPS – 3 June 2021
The preliminary report can be found . Stronger revisions only add to the gloss on this report as UK services sector output growth is seen at its quickest in 24 years.