Key Currency Exchange Rates for Friday, 09/01/17

American Dollar to Canadian Dollar = 0.734720; American Dollar to Chinese Yuan = 0.138010; American Dollar to Euro = 0.995171; American Dollar to Japanese Yen = 0.006774; American Dollar to Mexican Peso = 0.050361.

American Dollar to Canadian Dollar = 0.747505; American Dollar to Chinese Yuan = 0.139160; American Dollar to Euro = 1.093975; American Dollar to Japanese Yen = 0.007007; American Dollar to Mexican Peso = 0.057722.

December futures were little-changed in New York. OPEC and its partners including Russia achieved a record-high level of compliance to output cuts during September, according to a statement on Saturday. In the U.S., drillers reduced the rig count for a third week to the lowest since June, according to Baker Hughes. “The lower U.S. rig count number, the OPEC compliance number and the geopolitical headlines from northern Iraq and Iran on sanctions have helped futures higher,” Ole Hansen, head of commodity strategy at Saxo Bank A/S said. “But there are signs the market could be weakening with the seasonal refinery demand slowdown.” One sign that demand could be weakening is the Brent market structure known as backwardation -- when prompt prices are more expensive than later-dated futures -- which isn’t as strong as a month ago, said Hansen. Click Read More below for additional information.