Key Currency Exchange Rates for Friday, 08/25/17

The American Trucking Associations expressed grave concerns about media reports that the Environmental Protection Agency may be on the verge of granting the state of California waivers to implement potentially harmful and unrealistic emissions rules. “Our industry hopes these reports aren’t true. We have worked tirelessly with EPA on aggressive, achievable timelines for emissions reductions over decades. In fact, a truck in 1988 emitted as much as 60 trucks today – a more than 98% reduction – and we’re committed to the path to zero,” said ATA President and CEO Chris Spear. “If the reports are in fact accurate, let us remind you that this isn't the United States of California. As we learned in the pandemic, the supply chain can be a fragile thing – and its integrity must be preserved at the national level. This decision has little to do with improving the environment, and everything to do with placating the far left of the environmental lobby without regard for the hard-working men and women of our industry or our country who will be left to implement California’s vision for America.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index contracted 1% in May after falling 10.3% in April. In May, the index equaled 106.1 (2015=100) compared with 107.2 in April. “While tonnage fell in May, even though other economic indicators like retail sales and housing starts rose, I’m not overly concerned,” said ATA Chief Economist Bob Costello. “First, while down over 10 percent sequentially in April, truck tonnage did not fall as much as other economic indicators that month. This means that any rebound is tougher since tonnage didn’t fall substantially to begin with. Second, there are indications that freight continues to improve as more and more states and localities lift lockdown restrictions.” April’s drop was revised up to -10.3% from the 12.2% decline reported in our May 19 press release.

American Dollar to Canadian Dollar = 0.736415; American Dollar to Chinese Yuan = 0.138929; American Dollar to Euro = 1.081362; American Dollar to Japanese Yen = 0.006640; American Dollar to Mexican Peso = 0.058728.