Key Currency Exchange Rates for Friday, 11/20/20

The American Trucking Associations recognized 10 state trucking executives for their time representing the industry with Trucking Association Executives Council Service Awards. “These STA Execs, along with so many of our state trucking association executives here today, work daily in their respective state capitals and localities to promote, preserve and protect the interests of our great industry,” said TAEC National Chair Shannon Newton, president and CEO of the Arkansas Trucking Association. “Politics at the state level versus the federal level is about as different as night and day. Whereas the legislative process at the federal level tends to get totally bogged down for myriad reasons, legislative initiatives in state capitals actually move – often without warning and rather quickly. This fast-paced environment presents many unique challenges for industry advocates, and that’s not even mentioning the never-ending association management challenges we all face.”

American Dollar to Canadian Dollar = 0.799835; American Dollar to Chinese Yuan = 0.154082; American Dollar to Euro = 1.205341; American Dollar to Japanese Yen = 0.008831; American Dollar to Mexican Peso = 0.051581.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 0.5% in May after falling 1.4% in April. In May, the index equaled 117.1 (2015=100) versus 116.5 in April. “The transition in the freight market continued in May with the index hitting the second highest level since the pandemic started. Specifically on the market transition, ATA’s tonnage index is dominated by contract freight. The traditional spot market has slowed as freight softens, but these contract carriers are backfilling any losses in freight with loads from shippers that is reducing spot market exposure,” said ATA Chief Economist Bob Costello. “Essentially the market is transitioning back to pre-pandemic shares of contract versus spot market. “Overall, economic indicators that are important to trucking slowed in May, including retail sales, housing starts, and manufacturing output,” he said. Compared with May 2021, the SA index increased 3.7%, which was the ninth straight year-over-year gain and the largest since April 2021. In April, the index was up 2.5% from a year earlier. In 2022, year-to-date and compared with same period in 2021, tonnage was up 2.7%.