Latest data released by ZEW – 6 July 2021
There is a minor drop in the expectations reading from the lofty highs in May and June but it is merely a slight moderation as the optimism transfers over to present conditions.

Forex news from the European trading session – 5 July 2021
Headlines:
Markets:
– GBP leads, CAD lags on the day
– European equities mixed; S&P 500 futures flat

USD/CAD is up slightly to 1.2440 levels
The high today hit 1.2354 but sellers have been leaning on the 200-hour moving average (blue line) to keep any upside momentum at bay, after having driven price lower post-NFP at the end of last week.

Oil up 0.3% to $75.40 levels currently
Sure, they are blocking a deal/proposal for a 400k bpd increase in output per month starting from August, but they aren’t doing so because they are solely against that idea in particular, it’s more of a bargaining chip.

Latest data released by Sentix – 5 July 2021
Investor morale is seen improving to start 2H 2021 as economic conditions in the region pick up ahead of the summer, with the services sector in particular showing a marked improvement as virus restrictions are loosened. Sentix notes that:

Latest data released by Markit/CIPS – 5 July 2021
here
The downside is that cost inflation hit a record high in June amid supply chain disruptions and that could be a force that threatens to destabilise the recovery in general.

The oil talks on Thursday (1 July) were delayed until Friday and after no agreement was finalised they’ll continue on Monday. 
The United Arab Emirates blocked a final deal, long story short is the country wants a greater share of output. Negotiations were centring on 400,000K barrels of increased production in August, and then the same

Forex news for North American trading on July 2, 2020
In other markets as the week comes to a close shows:
– Spot gold is trading up $10.69 or +0.6% at $1787.29.
The US jobs report for June was released and showed a greater than expected 850k jobs added vs 700K estimate   May was revised to 583K vs 559K. The April report was revised

NASDAQ closes at a record and so does the Dow…
The NASDAQ index also closed at a record today that is the second consecutive record close for the NASDAQ. 

The latest from OPEC +
Meanwhile Russia recommends delaying OPEC+ talks by 1 to 2 days.
It seems there continues to be a stalemate.