Loonie steadies against US dollarClick image to enlarge

After declining last week against the U.S. dollar, the Canadian dollar steadied this week as wholesale trade provided an added boost to the numbers.

September wholesale trade was up by 1.0 per cent over August, far exceeding the predicted 0.4 per cent gain, reports the Globe and Mail. Sales volume grew by 0.9 per cent.

The news may be even better than expected. The Globe and Mail report that the dollar had steadied came just before a tentative deal was reached between CN and its conductors and railyard workers. The strike had begun to have an economic impact and threatened to cloud economic prospects for the fourth quarter. A resolution to the strike would ease those concerns.

At the end of the day on Monday the Canadian dollar was trading at 75.17 cents U.S.

Hopes for a trade deal between the U.S. and China have also had a positive impact, after China said it would work to improve protections for intellectual property rights. As a major exporter of commodities, including oil, Canada’s economy would benefit from an easing of trade uncertainty.

Lincoln Electric featured in new TV series

Lincoln Electric recently provided support during the filming on new series on ABC TV network called "BattleBots."

Welding equipment to grow 5.34% CAGR by 2019

The global welding equipment market is forecast to grow 5.34 per cent CAGR (compound annual growth rate), according to a new report from Research and Markets "The Global Welding Equipment Market 2015-2019."

CWB launches new program

CWB Certification has launched a new pilot project to support one-person welding shops and small organizations.

APMA names Project Arrow concept design winner

The Automotive Parts Manufacturers’ Association (APMA) has unveiled the winning design for the first all-Canadian full-build, zero-emission concept vehicle named Project Arrow.

PFERD new account manager for Canada, US

Michael Roche has joined PFERD Inc., as account manager, pipeline market. He will be responsible for pipeline channel customers in Canada and the US.

Supersonic car turns to additive manufacturing for help

Renishaw is contributing its knowledge in additive manufacturing to create prototype parts for a supersonic car, which will attempt to break the 1000 mph speed barrier.

Sharpest rise in manufacturing production since February: IHS Markit PMI

A sustained rebound in output and new business levels continued in October, with a modest improvement in business conditions in Canadian manufacturing, according to the IHS Markit Purchasing Managers’ Index (PMI), released November 1.

Ontario-made propellers for US Navy

An Ottawa, ON, manufacturer has developed a cost-effective machining process for complex impellers and propellers and just completed delivery of a series of its machined products for the US Navy. 

Haimer expands Canadian sales, service

Haimer USA is expanding its sales and service support in Canada with the appointment of Matt Seesle, who has joined the company as the dedicated Canadian applications sales specialist.

Can oil hit $100? Where prices are headed in 2019

Scotiabank’s Rory Johnston talks to the Financial Post’s Larysa Harapyn about the likelihood of oil reaching the $100 dollar threshold – and what it will take to get there.

Nova Scotia shop expands with acquisition

A Dartmouth, NS, machining and weldng shop is expanding with the acquisition of another Nova Scotia machine shop business based in Musquodoboit Harbour.

Innovative Toronto bicycle manufacturer adopts automated manufacturing

Helix Labs Inc. of Toronto, maker of what it says is the most compact, lightest and safest folding bike available, recently decided to automate its manufacturing facilities to meet demand for cost savings, quality and consistency.

Sohail Naroo joins Bystronic Canada sales team

Bystronic Canada Ltd. has announced the addition of Sohail Naroo to its Canadian division as direct sales engineer.

Ottawa, Ontario invest $150 million in Algoma Steel

As Canada gears up to lobby against US tariffs on steel and aluminum, the federal government is also making moves to bolster the industry here, most recently with the announcement of an investment of $90 million in Algoma Steel. The Ontario government is chipping in with a $60 million loan.

Free trade deal will cost Canada 58,000 jobs: Study

The Trans-Pacific Partnership (TPP), designed to create the world's largest free trade area, will cost Canada 58,000 jobs according to a US study.

Stay In Touch

twitter facebook linkedIn