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Australian Exporters Are Troubled By A Strong Australian Dollar

2011/9/2 8:31:00 47

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Strong Exporters In Australia

According to the latest

Federal Bank

Australian dollar barometer report, more than half of Australia

Small and medium exporters

They plan to increase their currency hedging against a strong Australian dollar.

In addition to 53% of the exporters planning to hedge their positions, 68% of the importers say they plan to hedge their US dollar positions in the next three months.

Proportion

Jumped sharply compared with last year.

Barometer monitors the Australian dollar position of small and medium-sized importers and exporters, their expectations for paction levels, and hedging plans for managing foreign exchange risks.

Joseph Capurso, a federal bank's currency strategist, says that many exporters feel that things are now painfully clear, and exporters continue to restructure their products, Joseph.

Business operation

We plan to take the initiative to maintain competitiveness.

"The reality is that the strong Australian dollar is putting pressure on them, which means that these companies must change their businesses and increase their productivity," he said.

According to the exporters' forecasts, the Australian dollar will rise to US $1.17 by the end of 2011, so they will continue to be affected for a period of time.

The latest report agreed with earlier research findings, which confirmed that exporters also believed that when the Australian dollar against the US dollar in the 0.90-1.00 interval was less competitive, they planned to reduce the selling price.

Barometer shows that, because Australian dollar is too high, many years of business in the 1.50-5.00 billion business plan to reduce jobs, but on the contrary, few turnover of 500-2500 yuan of enterprises plan to lay off workers.

Despite employment

prospect

Gloomy, but barometer shows that most small and medium enterprises, whether for export or import, are expected to raise their Australian dollar / US dollar positions in the next three months, which is a key indicator of future business expansion.

Most importers (89%) expect to increase their positions, and 30% exporters expect to increase their positions.

"Of course, everything has two sides.

Although exporters are very difficult,

Importer

It is obviously benefited from the current strong Australian dollar.

In fact, 17% of the importers are ready to increase the number of employees. They are optimistic about the US dollar. They expect that the Australian dollar will rise to US $1.23 by the end of 2011.