Monday, June 24, 2013

Canadian Dollar Hits 94,86 US

Saw today that the Canadian dollar hit 94.86 US dollars today, which is a low for quite a while. Good for the Canadian economy and especially good for the Ontario economy. One issue though is that a lot of the Ontario manufacturing base has disappeared in recent years, so are there even many manufacturers around to take advantage. 

Wages and hydro costs will have declined but who will take advantage. For Hamilton Dofasco definitely becomes more competitive. US Steel's Hamilton operations also becomes more competitive but probably not enough to restart the blast furnace. 

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