Currency Report: The trade-weighted U.S. Broad Dollar Index posted a reading of 113.345 for July 2021, up 1.33% month on month (m/m). This index value is down 4.71% on a year on year (y/y) basis. Month over month, we only saw the Euro and Mexican Peso strengthen vs. the USD.

Oil and Gas Rotary Rig Counts:  The total number of operating rigs in the U.S. for the week ending July 30th was 385 oil and 103 gas (totaling 488). In percentage terms, on a month on month (m/m) basis, oil rigs were up 2.4% and gas was up 4.0%. On a year on year (y/y) comparison, rigs were up 113.9% for oil and up 49.3% for gas. The combined figure for y/y was +94.4%, or +237 rigs.

Oil and Gas Rotary Rig Counts:  The total number of operating rigs in Canada for the week ending July 30th was 93 oil and 59 gas (totaling 152). In percentage terms, on a month on month (m/m) basis, oil rigs were up 6.9% and gas up 25.5%. On a year on year (y/y) comparison, rigs were up 745.5% for oil and up 78.8% for gas. The combined figure for y/y was +240.0% or 108 rigs.

Crude Oil & Natural Gas Pricing: July’s average West Texas Intermediate (WTI) crude oil price per barrel increased 2% month on month (m/m) – its smallest jump since April. The WTI is up 78% year on year (y/y), coming in at $72.49 / barrel in July 2021 vs. $40.71 / barrel in July 2020.

Advance Durable Goods Orders: The U.S. Census Bureau reported that new orders for durable goods in June 2021 increased by 0.8% month on month (m/m) to $257.6M, following the 3.2% increase in May. Year over year, new orders are up 24.2%.

U.S. Capacity Utilization was 74.6% in March 2021, increasing 2.6% month on month (m/m). Mexico Capacity Utilization was 81.8% in March, up 6.5% m/m. Canada Capacity Utilization was 81.7% for Q1 2021 (January – March), up 3.2% quarter on quarter (q/q).