American Dollar to Canadian Dollar = 0.795138; American Dollar to Chinese Yuan = 0.152528; American Dollar to Euro = 1.188831; American Dollar to Japanese Yen = 0.009116; American Dollar to Mexican Peso = 0.049665.

Short term, oil-pricing volatility will continue. Traders will likely consider any forward interruption – perceived or actual – in Iranian crude export flow as upward pressure on global prices. If this happens and JCPOA is not immediately closed, (i.e., should those second and third possible scenarios I mentioned play out), there will be a pullback. Overall, other factors have been contributing to an increasing floor for the oil-pricing band, supported by continuing OPEC production problems in Venezuela, Nigeria, and Libya. Click Read More below for additional information.

FreightWaves CEO Craig Fuller calls the truck driver shortage a “myth” in a recent piece of self-promotion, but his assertion collapses under the weight of facts and data. Fuller claims the mythical shortage is an ATA fabrication—a narrative perpetuated for our convenience. Of course, we’re not alone in reporting this issue. Driver shortages are global in scope, with growing vacancies felt across the Americas, Asia, and Europe, and documented in IRU’s 2022 Global Driver Shortage Report: In Europe, driver shortages jumped by 42% from 2020 to 2021, with vacant driver positions reaching 71,000 in Romania, 80,000 in both Poland and Germany, and 100,000 in the UK. In Mexico, shortages rose by 30% to reach 54,000, while in China, they increased by 140%, reaching 1.8 million.