Early Thursday, Australia’s Prime Minister (PM) Scott Morrison announced, per ABC news, fiscal relief for those who battle the coronavirus (COVID-19) related activity, mainly in Victoria.
The Oz nation’s leader initially mentioned that the “temporary covid disaster payment” will be delivered if the lockdown is greater than seven days.
Following are the few conditions to get the government relief:
- People over the age of 17 who usually work more than 20 hours a week will be eligible for the full $500, or $325 if they work fewer hours than that.
- The recipient must have less than $10,000 in liquid assets.
- He/she can't be getting another form of pandemic or income support.
FX reaction…
AUD/USD pauses the downside around an intraday low of 0.7736 following the news announcement.
Read: AUD/USD Price Analysis: Inches closer to 0.7700 on Wednesday’s bearish Doji
