Key Currency Exchange Rates for Friday, 5/04/18

American Dollar to Canadian Dollar = 0.730693; American Dollar to Chinese Yuan = 0.136697; American Dollar to Euro = 1.058834; American Dollar to Japanese Yen = 0.006669; American Dollar to Mexican Peso = 0.054446.

Futures were little changed in New York after tumbling 2.9 percent Wednesday, the biggest daily drop since Oct. 6. Motor-fuel stockpiles rose by 6.78 million barrels last week for a fourth weekly advance, according to Energy Information Administration data. That’s more than double the most bearish estimate in a Bloomberg survey. U.S. oil output increased to a record. U.S. crude inventories fell by 5.61 million barrels last week, the EIA reported Wednesday. Oil production expanded for a seventh week to 9.7 million barrels a day, the highest level in weekly data compiled by the EIA since 1983. Click Read More below for additional information.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 0.2% in August after rising 1.1% in July. In August, the index equaled 115.3 (2015=100) compared with 115 in July. “The evidence is growing that tonnage hit bottom in April and continues its slow climb upwards,” said ATA Chief Economist Bob Costello. “However, year-over-year comparisons remain difficult as tonnage peaked in September of last year. As a result, it is unlikely that tonnage turns positive compared with a year earlier for at least a month or two longer. Most recently, freight continues to be mixed, with consumer spending and factory output flat to down.” July’s increase was revised higher from our August 22 press release. Compared with August 2022, the SA index fell 2.3%, which was the sixth straight year-over-year decrease. In July, the index was down 1.2% from a year earlier.