Key Currency Exchange Rates for Friday, 11/10/17

Trucking activity in the United States increased again in August, pushing the level up to the highest point since December 2023. Specifically, truck freight tonnage rose 0.9% after gaining 1.1% in July, according to the American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index.  “The good news is that truck freight volumes had a nice end of the summer,” said ATA Chief Economist Bob Costello. “However, while I’d like to predict a strong rebound in freight levels through the upcoming holidays, I can’t. I believe traditional seasonal patterns are off this year as shippers adjust to tariffs. Plus, housing remains soft, the slowing labor market is likely to show up in consumer spending at some point, and most manufacturing metrics are either decelerating or declining.” Trucking serves as a barometer of the U.S. economy, representing 72.7% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 11.27 billion tons of freight in 2024.*  Motor carriers collected $906 billion, or 76.9% of total revenue earned by all transport modes.

American Dollar to Canadian Dollar = 0.717826; American Dollar to Chinese Yuan = 0.140426; American Dollar to Euro = 1.086623; American Dollar to Japanese Yen = 0.006549; American Dollar to Mexican Peso = 0.050012.

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 0.8% in July after falling 0.3% in June. In July, the index equaled 112.9 (2015=100) compared with 113.8 in June. June’s increase was revised lower from our July 18 press release. Compared with July 2022, the SA index fell 3%, which was the fifth straight year-over-year decrease. In June, the index was down 3.2% from a year earlier.