Canadian dollar rises after steep loss traders look to rate announcement

Canadian dollar rises after steep loss, traders look to rate announcement TORONTO – The Canadian dollar closed higher Monday as traders focused on the release Wednesday of the Bank of Canada’s interest rate announcement and its latest monetary policy report.The loonie edged up 0.17 of a cent to 93.33 cents US.The loonie had tumbled three-quarters of a US cent on Friday in the wake of disappointing employment data that saw the loss of 9,500 jobs in June.The central bank is universally expected to leave its key rate at one per cent, where it has been for almost four years. That means traders will particularly focus on the bank’s assessment of how the economy is performing amid rising inflation.“We will also be looking for any comments about the recent strengthening of the Canadian dollar and the risks that it may pose for their assumption of strengthening exports,” said Mark Chandler, head of Canadian FIC strategy at RBC Dominion Securities.The currency has lately been hovering around the 94 cent US level. It had been trading around 90 cents US for much of the year but found buoyancy from rising oil prices, stronger than expected housing data and higher inflation.Investors will also focus on monetary policy testimony from U.S. Federal Reserve chair Janet Yellen on Tuesday and Wednesday.“While much of the impact of the semi-annual address has waned with the (Fed) now providing quarterly forecast updates, we would expect some questions on the timing of future rate increases,” Chandler said.“Also on Wednesday, the (Fed’s latest regional economic survey) will be released and should, on the basis of recent job figures, be a relatively upbeat compendium of economic conditions.”Commodities were mixed as the price of oil edged higher after its biggest one-day drop since April amid growing expectations of more supplies from Libya. August crude added eight cents to US$100.91 a barrel.Metals declined with September copper down two cents to US$3.25 a pound while August gold bullion dropped $30.70 to US$1,306.70 an ounce. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email by Malcolm Morrison, The Canadian Press Posted Jul 14, 2014 7:05 am MDT read more

Whats the most significant recent innovation in software for the mining industry

first_imgWe are now accepting nominations for the International Mining Technology Hall of Fame – to be inducted in Phoenix, AZ, USA, February 22 during the SME Annual Conference (www.im-halloffame.com) at a dinner event at the Hyatt Regency. Nominees are judged on innovation and contribution made to the industry – i.e. what has this innovation achieved. Nominations are also sought for those who have facilitated the introduction of a specific technology to an operation. They can be as important as the innovators. Nominations should be for a person or team of people, who must all be named.  The 12 categories are: Outstanding innovator, Environmental management and stewardship, Safety, Exploration, Mining software, Underground development, Underground production, Surface mining, Bulk handling, Comminution, Concentration and Metallurgy  How a nomination stands out: Judges looked for well-presented nominations:  * Clear presentation of the nominee’s “above and beyond” qualities and accomplishments  * Information that demonstrates that the innovation and the nominee’s activities actively contributed to industry knowledge and advancement  Judges for the International Mining Technology Hall of Fame include industry experts from academia (mining professors), CEOs and senior management of engineering and consulting companies, mining company executives, past inductees and others interested in mining technology.  Nominations are due in by the end of July and should be sent to [email protected] Nominations received after July 2015 will be considered for the 2016 inductions. Contact us for sponsorship opportunities.last_img read more