Key Currency Exchange Rates for Friday, 7/9/21

American Dollar to Canadian Dollar = 0.728201; American Dollar to Chinese Yuan = 0.139597; American Dollar to Euro = 1.099379; American Dollar to Japanese Yen = 0.006755; American Dollar to Mexican Peso = 0.053497.

American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index increased 2.1% in December after falling 1.4% in November. In December, the index equaled 115.7 (2015=100) compared with 113.3 in November. “While 2023 ended on a better note, truck tonnage remained in a recession as it continued to fall on a year-over-year basis,” said ATA Chief Economist Bob Costello. “With that said, for-hire contract freight, which is what comprises our index, in December was 2.6% above the trough in April. For the entire year, tonnage contracted 1.7% from 2022 levels. This makes 2023 the worst annual reading since 2020 when the index fell 4% from 2019, and the only year since 2020 that tonnage contracted.” Compared with December 2022, the SA index fell 0.5%, which was the tenth straight year-over-year decrease, albeit the smallest over that period. In November, the index was down 1.6% from a year earlier.

Yuan-denominated oil futures on the Shanghai International Energy Exchange lost 2.8 percent to 405.5 yuan a barrel. The September delivery contract closed 0.9 percent lower on Monday after debuting last week. U.S. crude inventories are estimated to have added 2 million barrels last week, according to a Bloomberg survey before Energy Information Administration data due Wednesday. The nation’s oil production had also increased for a fifth week in the period ended March 23, hitting a fresh record. Click Read More below for additional information.