American Dollar to Canadian Dollar = 0.736701; American Dollar to Chinese Yuan = 0.141727; American Dollar to Euro = 1.115874; American Dollar to Japanese Yen = 0.006928; American Dollar to Mexican Peso = 0.051637.

West Texas Intermediate futures rose 0.5 percent, following a 1.7 percent increase last week, when they hit a three-year high. Rigs drilling for crude fell by five to 742 in the seven days ended Jan. 5, according to Baker Hughes data Friday. Hedge funds retreated from the most bullish stance on WTI in 10 months during the week ended Jan. 2. “A drop in active oil rigs is usually bullish for oil prices,” said Michael Poulsen, an analyst at Global Risk Management Ltd. Oil had its strongest opening week for any year since 2013 as U.S. stockpiles continue to shrink. Click Read More below for additional information.

The American Forest & Paper Association (AF&PA) has expressed support for the U.S. administration's recent efforts to address trade challenges with the European Union, particularly regarding non-tariff barriers affecting the paper and forest products industry. In a statement released following U.S.-EU trade negotiations, AF&PA President and CEO Heidi Brock welcomed the administration’s commitment to fostering fair and reciprocal trade. She emphasized the importance of tackling both tariff and non-tariff obstacles to safeguard U.S. exports. One of the AF&PA’s key concerns is the European Union’s Regulation on deforestation-free products (EUDR), which the Office of the United States Trade Representative (USTR) has classified as a non-tariff trade barrier. According to the association, the regulation could put at risk more than $3.5 billion in annual exports of U.S. forest products to the EU.