Currency Report: The trade-weighted U.S. Broad Dollar Index posted a reading of 111.85 for June 2021, up 0.34% month on month (m/m). This index value is down 6.73% on a year on year (y/y) basis. On a 12-month moving average (12MMA) y/y comparison, the index was only down 3.47%. Month over month, we saw the Brazilian Real, Chinese Yuan, Euro, and Korean Won strengthen vs. the USD.

Oil and Gas Rotary Rig Counts:  The total number of operating rigs in the U.S. for the week ending June 25th was 372 oil and 98 gas (totaling 470). In percentage terms, on a month on month (m/m) basis, oil rigs were up 3.6% and gas was flat. On a year on year (y/y) comparison, rigs were up 97.9% for oil and up 30.7% for gas. The combined figure for y/y was +77.4%, or +205 rigs.

Oil and Gas Rotary Rig Counts:  The total number of operating rigs in Canada for the week ending June 25th was 82 oil and 44 gas (totaling 126). In percentage terms, on a month on month (m/m) basis, oil rigs were up 192.9% and gas up 29.4%. On a year on year (y/y) comparison, rigs were up 1000+% for oil and up 388.9% for gas. The combined figure for y/y was +869.2% or 113 rigs.

U.S. Crude Oil Pricing: June’s average West Texas Intermediate (WTI) crude oil price per barrel increased 12% month on month (m/m) – its largest jump since February. The WTI is up 90% year on year (y/y), coming in at $72.98 / barrel in June 2021 vs. $38.31 / barrel in June 2020.

Employment by Industry (U.S.): In June 2021, the total number of seasonally adjusted (SA), non-farm people employed in the U.S. was 145.8 million (M) – an increase of 850,000 (+0.6%) month on month (m/m). When compared to June 2020, total employment is up by 5.7% year on year (y/y).  We saw the greatest employment gains in the service-providing sector this month.

Advance Durable Goods Orders: The U.S. Census Bureau reported that new orders for durable goods in May 2021 increased by 2.3% month on month (m/m) to $253.3M, following the 0.8% decrease in April. The always-volatile nondefense aircraft orders, up 1000+% year on year (y/y), influenced this trend significantly.