Australian PM Morrison: National Cabinet attention is turning to road out to post-coronavirus recovery

Dhwani Mehta FXStreet

Reuters reports the key comments from the Australian Prime Minister Scott Morrison, as he says that the National Cabinet's attention is turning to road out to recovery.

Additional comments

RBA governor and Treasury briefed the national Cabinet today.

Need to be prepared for very sobering economic news in the months ahead.

Need broader testing regime to lift restrictions.

Need to improve tracing capability to an industrial capacity.

We will be reviewing restrictions in the next four weeks.

Social distancing restrictions to remain in place.

Looking to have a trial week of parliament in May.

Not contemplating border regulation changes with New Zealand.

AUD/USD reaction

AUD/USD is consolidating its drop to five-week lows of 0.6265 in early Europe, as the bears take a breather amid broad dollar weakness and ahead of key US macro data.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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