Canadian dollar fallsClick image to enlarge

The Canadian dollar dropped to its lowest level since January 4, falling 0.7 per cent to $1.3439 versus the U.S. dollar and reducing its climb for 2019 to 1.5 per cent.

The fall comes after the Bank of Canada abandoned its position that interest rates would need to rise as economic growth cooled. The BoC left its benchmark rate at 1.75 per cent midweek, citing “increased uncertainty about the timing of future rate increases,” reports Bloomberg News. The market has now virtually ruled out a rate hike this year and in fact expectation is growing that the rate will be cut by mid-year, based on Bloomberg data.

“They sound less convinced about the next hike,” said Win Thin, global head of currency strategy at Brown Brothers Harriman, as reported by the Ottawa Citizen. “If the data continues to come in weak, they may have to switch to a neutral bias. The data has added to the gloom.”

The BoC’s reversal on a rate hike came as the economy slowed almost to a halt in the fourth quarter.

Knuth opens new demo facility

Knuth Machine Tools USA has opened its new showroom and demonstration facility that will showcase the three major cutting technologies it offers: laser, plasma and waterjet.

New orders for U.S. factories contract for first time in two years

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Canadian manufacturers raise alarm about labour disruption at CP Rail

The Canadian Manufacturing Coalition, a group representing Canada’s manufacturing trade associations, is urging Canadian Pacific Railway and its union to avoid a labour disruption that further fractures the country’s beleaguered supply chain.

Fanuc partners with Montreal's Vention

Fanuc has partnered with Vention, a Montreal-based cloud manufacturing automation platform (MAP) company, to sell collaborative robotics. Centered around the FANUC CRX cobot, this alliance will allow users to design and order complete, end-to-end robot cells directly from the Vention cloud platform.

Armoured vehicle maker opens new plant in Ontario

INKAS Group of Companies has opened a new manufacturing facility in Ontario and the first armoured vehicle showroom in Canada.

The company held a ribbon cutting ceremony on December 8 to commemorate the new plant.

CWB, Boilermakers nab $6.6M in federal training funding

The CWB Welding Foundation, CWB Group and the International Brotherhood of Boilermakers (IBB) have received a $6.6-million grant from the federal government to improve welding training.

CNC Indexing & Feeding Technologies offering industrial air/oil filtration systems

CNC Indexing & Feeding Technologies has been named exclusive U.S. importer for AR Filtrazioni industrial air/oil filtration systems.

Bystronic Canada appoints new direct sales engineer

Bystronic Canada has appointed David Golls as direct sales engineer for Alberta and British Columbia.

Dufour Aerospace establishing footprint in Montreal

Quebec manufacturers serving the aerospace market will soon have one more customer to call on. Switzerland’s Dufour Aerospace is establishing a base of operations in Montreal as it looks to develop the next electric vertical take-off and landing (eVTOL) aircraft.

Canadian manufacturing leads strong growth

Canada's manufacturing industry grew at its fastest pace in more than two years, another sign that Canada's economy is off to a strong start in 2017.

Newfoundland and Labrador welding group holds inaugural event

The Newfoundland and Labrador chapter of the Canadian Welding Association held its inaugural event in late November with close to 70 people in attendance.

Bright future for welders: news story

A Southwestern Ontario newspaper has published a news story highlighting careers in welding for youth. 

TRUMPF grows with Chicago expansion

TRUMPF plans to expand its operations with a new 50,000 sq ft facility in Chicago, IL, that will house a Technology Centre and a Centre for Excellence for Industry 4.0. The facility will be completed by mid-2017.

Bentley expands 3D printing to produce thousands of new components

Bentley Motors, perhaps the most famous luxury car brand in the world, is embracing a future that includes leaning on the advantages of additive manufacturing.

Ontario firm signs North American robot supply deal

I-Cubed Industry Innovators Inc., based in Stoney Creek, ON, has signed an agreement with Yaskawa America through the company's Motoman Robotics Division (Yaskawa Motoman) to supply robots to the North American waterjet market.

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