On Tuesday next week the Reserve Bank of Australia will meet to make that all important decision on the cash rate. While it seems unlikely that the bank will elect to cut the cash rate from the 2% it has sat at now for the last eight meetings, there is always a small chance it could surprise everyone.

If a cut does happen next week or later in 2016 the impact it will have on the Australian dollar will be largely negative and could push it below 70 U.S. cents again.

Should the Australian dollar drop down to this level it will be great news for some Australian companies. I feel the following three companies are likely to be impacted positively by an even weaker Australian dollar.

In its recent half year results Treasury Wine Estates Ltd (ASX: TWE) reported that revenue increased 22% from the same period a year earlier. Had the Australian dollar not weakened, though, revenue would have been up by just 11%.

This is still a great performance of course, but it just goes to show how competitive exports become with a weaker Australian dollar.

Cochlear Limited (ASX: COH) just keeps going from strength to strength. Not only does it have a market-leading position in the industry, it also sees the vast majority of its sales coming from overseas.

Just like Treasury Wine Estates, when Cochlear reported its half year results, it produced fantastic top line growth. For the half year its revenue grew by 32%, or 16% on a constant-currency basis. As you would expect, the shares jumped on the news and could yet climb higher should the Australian dollar drop enough to keep this growth rate going.

Catapult Group International Ltd (ASX: CAT) is not a share you hear a great deal about, and its relatively new status on the Australian Stock Exchange does make it risky. But I believe it is worth keeping a close eye on.

Catapult provides GPS tracking and analytics solutions for sports teams. It has contracts with 50% of all NBA teams, all of the AFL, the ARU, half of the Turkish Super Liga, and numerous individual sports clubs.

With such a significant portion of its business coming from overseas sports clubs, and its services being price competitive, I believe the company is positioned well to potentially grow at a rapid pace.

Foolish takeaway

In the current economic climate having the majority of your sales coming from overseas appears to be a major tailwind for Australian companies. But it is worth remembering that what is a tailwind today, could one day become a headwind.

I don’t see the Australian dollar strengthening far beyond where it is today for many years, but if and when it eventually does these three companies could see their growth slow dramatically.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.