HSBC Australia Chief Economist Paul Bloxham says the Australian dollar is acting as an economic “shock absorber” amid the global trade war instigated by US imposed tariffs.
“The Australian economy is looking as though it’s not going to be the biggest loser in this overall story – we’ve got less exposure to some parts of it, certainly less direct exposure to the US than a lot of other countries,” Mr Bloxham said.
“The indirect effect through Asia is the one to really watch out – and what happens with the Asian economies in terms of its flow through to Australia – but like the treasury, our view is that the Australian economy is going to fare a little bit better than most.
“The shock absorbers that we have, you know the primary one is the currency and the Aussie dollar is down a long way, and it’s already acting in the way that it should in terms of supporting the economy by falling.”
source
Economic girly men
How is the AUD falling in any way a good thing? Particularly as most consumer items are imported.
You are infested with crooked officials 💯🔥
This is cause you guys wouldn't share your shrimp on the barby anymore!
-an American
👉 I sure don't want to see Charles's face on our Coins and Notes 👉 . GET REAL. 👈
😅
Is this supposed to make us forget about the conflicts they’ve had recently?
Yeah you don't make anything to export.
Drump is robbing us
Don't panic mate. You sound excited and deranged. Calm down and sound measured.
A good joke… if the Chinese didn't buy the iron ore… the story would be very different.
didn’t a ginormous panic attack during the wu flu cause the last disaster? why are people panicking again, and why do they think that a panic attack is the answer this time?
I wish we had a President Trump in Australia. But no.
Just a pile of woke DEI queer trans and minorities supporters. WHAT ABOUT THE SILENT MAJORITY?
My heart bleeds. When will Australians get a leader with a pair?
Trump got this. No worries, mates.
I went to Coles the other day and English muffins went up 20%. Luckily the FlyBuys dollars acted like a shock absorber.
I never would have bet ANYONE would reset all this in my lifetime !!! Pres Trump just saved the USA… if the US economy would have failed, all of them would have gone down with the SHIP !!! Our kids will or should hold him in high praise !?!?!? This had to be done and soo happy that so many get it !!! At 69 I didn't need this but… it's worth it !!! Just wish the left was smarter…
Pull the lead out of Trump and Elons AI machine before its too late 😮
Trump sold his snake oil and the US bought it….
I always said that Australia is the best country in the world, apart from possibly Switzerland.
Let’s rally on our own dollar
Australian alegarhs got smaked by Tariffs 😂😂😂Go Trump !!!
Normal taxpayers will get screwed by government of parasites politicians' millioners anyway.
I look at my bills, including taxes and get more philosophical.
WHF
Australian beef cheaper in Japan than in Australia.😂😂😂
Australian gas cheaper
overseas than in Australia. 😂😂😂
Electricity one of the most expensive in the world 😂😂😂
We are normal people, so f….d
Poverty in Australia is rising from 12~% to 15+% now due to the markets reactionary measures and the anticipation from RBA cuts alone. 🤮 Nearly 3% rise in poverty within the lowest echelons of society in Australia. But yeah let's pretend that it is doing what it is meant to do.
Sky News Aus has gone full schizo at this point.
Our Australian alegarhs got smaked by Tariffs 😂😂😂Go Trump !!!
Normal taxpayers will get screwed by government of parasites politicians' millioners anyway.
I look at my bills, including taxes and get more philosophical.
WHF
Australian beef cheaper in Japan than in Australia.😂😂😂
Australian gas cheaper
overseas than in Australia. 😂😂😂
Electricity one of the most expensive in the world 😂😂😂
We are normal people, so f….d