Key Currency Exchange Rates for Friday, 4/27/18

Oil prices edged lower on Friday and were on track for weekly losses, weighed down by rising Opec exports and strong output from the US. Brent crude futures, the international benchmark, were trading at $51.61 a barrel at 9.58am GMT, 40c below the last close and heading for a fall of more than 1.5% on the week. US West Texas Intermediate (WTI) crude futures were 40c lower at $48.63 a barrel and were set to drop by just more than 2% for the week.

UPS is doubling down on its customer-first strategy by expanding its end-to-end portfolio with two ground shipping options for residential and commercial shippers: UPS Ground Saver® and UPS® Ground with Freight Pricing. In today’s dynamic market, global logistics continues to evolve, and UPS is moving forward to deliver for customers of all needs and sizes. "UPS is on a mission to transform our customer experience by offering an end-to-end portfolio which provides delivery, returns and pickup services seven-days-a-week," said UPS Chief Commercial and Strategy Officer Matt Guffey. "Ground Saver and Ground with Freight Pricing represent the first of many product enhancements UPS will roll out in 2025."

“After declines in November and December totaling 1.7%, tonnage was unchanged in January” said ATA Chief Economist Bob Costello. “This outcome is impressive considering the massive winter storm that brought cold temperatures and significant snowfalls to large parts of the country, including those that rarely see such storms. Furthermore, the terrible wildfires in California likely also caused freight disruptions. Softness in manufacturing and retail sales continue to be a drag on truck freight volumes as well, so the fact tonnage was flat is a positive sign.” In January, the ATA advanced seasonally adjusted For-Hire Truck Tonnage Index equaled 111.9 the same as December. The index, which is based on 2015 as 100, was up 0.3% from the same month last year, the first year-over-year increase since August. The not seasonally adjusted index, which calculates raw changes in tonnage hauled, equaled 110 in January, 1.1% above December’s reading of 108.9.