Key Currency Exchange Rates for Friday, 8/13/21

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.

Futures lost 0.3 percent in New York after rebounding Tuesday from the biggest drop in a week. Motor fuel stockpiles gained by 1.4 million barrels last week, while crude inventories fell by 3.6 million barrels, the American Petroleum Institute was said to report. Energy Information Administration data Wednesday is forecast to show both gasoline and crude stockpiles decreased. U.S. crude stockpiles at Cushing, Oklahoma, the delivery point for WTI and the biggest U.S. oil-storage hub, dropped by 462,000 barrels last week, said the API, according to people familiar with the data. Nationwide crude inventories probably decreased by 3.48 million barrels last week, while gasoline supplies slid 1.25 million, according to analysts surveyed by Bloomberg. Click Read More below for additional detail.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 0.3% in April after increasing 2.3% in March. In April, the index equaled 114.7 (2015=100) compared with 115.1 in March. “After a revised increase in March of 2.3%, the April index declined just slightly,” said ATA Chief Economist Bob Costello. “The outlook is solid for tonnage going forward as the country approaches pre-pandemic levels of activity, with strong economic growth in key areas for trucking – including retail, home construction and even manufacturing. “Additionally, the index increased on a year-over-year basis for the first time since March 2020. Part of the reason for the gain was due to an easy comparison with when the index fell significantly in April 2020,” he said. “But I’m expecting increases, albeit smaller than April’s, on a year-over-year basis going forward. Trucking’s biggest challenges are not on the demand side, but on the supply side, including difficulty finding qualified drivers.”