2015 Has started on an interesting financial footing, the dollar is weaker trading at just under 80 cents to the US dollar, oil and subsequently fuel prices are down. I haven’t seen fuel at this level for a couple of years.
Asian giant, China has had the lowest growth in 24 years, and this will negatively affect exports from Australia to China. Miners like BHP and Rio Tinto will feel this weakness, as will investors and shareholders.
The dollar has dropped significantly from only twelve months ago, not good if you are planning for that overseas holiday of a lifetime. The weaker dollar though may yet be a blessing for exports and the economy.
There is also talk of further interest rate cuts. How low will they go? Only time will tell and it will also depend on consumer confidence.
So hold on! We are in for an interesting ride this year…