American Dollar to Canadian Dollar = 0.753119; American Dollar to Chinese Yuan = 0.140270; American Dollar to Euro = 1.102268; American Dollar to Japanese Yen = 0.007036; American Dollar to Mexican Peso = 0.058948.
https://www.x-rates.com/table/?from=USD&amount=1.00
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Oil prices fell for a fourth session on Wednesday after the U.S. government reported an unexpected increase in crude and gasoline stockpiles, but an increase in refining runs and a drawdown in distillates helped prices bounce off session lows. Prices also remained under pressure from this week's International Energy Agency (IEA) outlook for slower growth in global crude demand. While the crude build of 1.9 million barrels reported by the Energy Information Administration was more than forecast, it was not as big as the increase of 6.5 million barrels reported on Tuesday by industry group the American Petroleum Institute. The EIA data encouraged buying at session lows. Click Read More below for additional information.
Today, the American Trucking Associations released its latest ATA Freight Transportation Forecast: 2020 to 2031, which is conducted annually by IHS Markit, showing that despite contraction in 2020, the long-term trend for both trucking and overall freight shipments is still positive. Among the findings in this year’s Forecast: *Total freight volumes in 2020 are likely to collapse by 10.6% to 14.6 billion tons, although truck freight volumes falls a smaller 8.8%. *Trucking volumes are expected to rebound in 2021, rising 4.9% next year and then growing 3.2% per year on average through 2026. *Overall freight revenues in 2020 will total $879 billion, rising to $1.435 trillion in 2031.
Labor talks at U.S. ports on the East Coast and Gulf of Mexico are a looming risk for retailers, manufacturers and other shippers already grappling with longer transit times and higher costs. The International Longshoremen's Association contract covering 45,000 dockworkers at three dozen ports stretching from Maine to Texas expires on Sept. 30. If there is no deal by then, the union could call a strike that would hit during the vital holiday container shipping season and labor-friendly U.S. President Joe Biden's bid for reelection. The ILA on Monday called off this week's planned start of talks with the U.S. Maritime Alliance, citing one member of that employer group's use of automation technology in violation of prior agreements.