Key Currency Exchange Rates for Friday, 8/21/20

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.

There's something terribly wrong with the buyer-and-seller relationship in the B2B world. Sixty-five percent of B2B buyers rank salespeople as “average” or “poor”, according to a new study by Discover.org and sales linguist Steve W. Martin. As the study's blog post notes, there's already a lot of distrust and skepticism associated with salespeople — in-depth RFPs and product demos are evidence of that. However, the study shows that the 35% of respondents who held “good” or “excellent” views were willing to take more risks, like adopt a new product or experiment with a new trend.

American Dollar to Canadian Dollar = 0.741829; American Dollar to Chinese Yuan = 0.144755; American Dollar to Euro = 1.102394; American Dollar to Japanese Yen = 0.007450; American Dollar to Mexican Peso = 0.055850.