Canadian importing businesses have experienced some real setbacks over the last few months. Last year, importers were able to buy $1 million dollars’ worth of goods from the U.S. for $1,160,000 CAD; today, importers pay $1,280,000 for the same quantity of goods, a 12% cost increase in just one year! This, along with numerous business closures across Canada, has made a marked impact on expected profits.
In spite of the dim outlook, the low CAD presents opportunities for Canadian businesses: With new global trade programs established in very lucrative markets and a low Canadian dollar, it brings together a perfect storm to profit.
Join AFEX at the upcoming COPA Knowledge and Business Conference on May 5th at the Toronto Airport West Hotel to find out how you can:
- Protect your profits: Aggressive FX market movements can totally erase profits
- Compete in the market: Businesses will often add excessive margin in their pricing model to cover potential FX rate movements, this often makes their pricing less competitive
- Better estimate FX exposure: Companies often do not recognize their true/complete exposure to the FX Markets, either on certain components or in managing receivables
- Seek the solution not the problem: Learn key advantages associated with a lower loonie
This presentation will be led by Christopher P. Nicholson, vice president, foreign exchange and relationship management at AFEX. Christopher has 20 years of experience in the Foreign Exchange market and consults with private corporations and publicly traded companies to effectively manage their foreign exchange exposures and stabilize profit margins, while also providing protection from the negative impacts of the fluctuating currency market.
For complete event details or to register, click here.