Key Currency Exchange Rates for Friday, 11/1/24

American Dollar to Canadian Dollar = 0.776214; American Dollar to Chinese Yuan = 0.150313; American Dollar to Euro = 1.161353; American Dollar to Japanese Yen = 0.008759; American Dollar to Mexican Peso = 0.051954.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 1% in November after increasing 0.8% in October. In November, the index equaled 113.7 (2015=100) compared with 114.9 in October. “We continued to see a choppy 2023 for truck tonnage into November,” said ATA Chief Economist Bob Costello. “It seems like every time freight improves, it takes a step back the following month. While year-over-year comparisons are improving, unfortunately, the freight market remains in a recession. Looking ahead, with retail inventories falling, we should see less of a headwind for retail freight, but I’m also not expecting a surge in freight levels in the coming months.” October’s gain was revised down slightly from our November 21 press release. Compared with November 2022, the SA index fell 1.2%, which was the ninth straight year-over-year decrease. In October, the index was down 2.4% from a year earlier.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 2.5% in November after slipping 1.2% in October. In November, the index equaled 114.7 (2015=100) versus 117.6 in October. “For-hire truck tonnage saw the largest single monthly decrease in November since the start of the pandemic and a total drop of 3.7% in October and November,” said ATA Chief Economist Bob Costello. “The decreases match anecdotal reports of a soft fall freight season as well as a slowing goods-economy generally. Housing-related freight is particularly weak.”