Key Currency Exchange Rates for Friday, 11/17/17

American Dollar to Canadian Dollar = 0.736670; American Dollar to Chinese Yuan = 0.142898; American Dollar to Euro = 1.142584; American Dollar to Japanese Yen = 0.009329; American Dollar to Mexican Peso = 0.044550.

Oil prices were mixed on Tuesday, with U.S. crude gaining and Brent crude slumping, as investors prepared for a key meeting of the OPEC producer group next week. Crude future were in line with the broader financial markets, which were largely unruffled by a U.S.-North Korea summit aimed at the denuclearization of the Korean peninsula. OPEC and other producing countries including Russia have cut oil output by 1.8 million barrels per day (bpd) since January 2017 in an effort to boost the market. The group holds its next meeting on June 22-23, and is expected to decide on future supply policy. Click Read More below for additional information.

Underscoring the need for long-overdue freight rail reform, American Forest & Paper Association (AF&PA) President and CEO Donna Harman urged the United States Senate to quickly confirm the nominations of Patrick Fuchs and Michelle Schultz to the U.S. Surface Transportation Board. The Senate Committee on Commerce, Science and Transportation approved the nominations on Wednesday, April 25. “As one of the largest manufacturing sectors in the nation, the paper and wood products industry relies on the nation’s rails to move millions of tons of materials to production mills and final markets. Revoking the outdated commodity exemption policy and addressing harmful service failures and higher pricing will help ensure the accessibility of effective, streamlined and competitive rail service to our companies all rail customers. We thank the committee for its approval and urge the Senate to quickly confirm Mr. Fuchs and Ms. Schultz.”