American Dollar to Canadian Dollar = 0.744569; American Dollar to Chinese Yuan = 0.139851; American Dollar to Euro = 1.087743; American Dollar to Japanese Yen = 0.006772; American Dollar to Mexican Peso = 0.058284.
https://www.x-rates.com/table/?from=USD&amount=1.00
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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.
Futures were steady in New York after rising 3.8 percent in the previous three sessions. Global demand will climb this year by the most since 2015, the IEA said Wednesday. OPEC on Tuesday raised estimates for the amount of crude it will need to supply in 2018 on stronger consumption from Europe and China. U.S. oil output gained last week as operations returned after Hurricane Harvey. The IEA report “was taken as confirmation of the prevalent supply-tightening narrative, that that oil surplus is slowly disappearing,” said Norbert Ruecker, head of commodity research at Julius Baer Group Ltd. Still, crude is “trading at the upper end of a fundamentally justified price range” and the “upcoming seasonal demand soft patch is set to create near-term headwinds.” Click Read More below for more of the story.
Oil prices were mixed Friday as investors waited to see the potential impact of Tropical Storm Nate on U.S. Gulf Coast oil infrastructure. “As we come into the weekend, the market is focusing on the implications of Tropical Storm Nate and how big any disruptions will be” on crude production and refining capacity, said Richard Mallinson, an analyst at consultancy Energy Aspects. As with Hurricane Harvey in August, the “tendency is for the focus to be more on refinery shutdowns, which is probably more positive for product prices and probably a little bearish for crude prices,” Mr. Mallinson said. Click Read More below for more of the story.