Australian PM Morrison: The news today was very difficult in Sydney

Anil Panchal FXStreet

Australian Prime Minister Scott Morrison announced extra stimulus for New South Wales (NSW) as the state refreshed 16-month high, unfortunately, of covid infections to 177.

The details suggest additional monetary support for NSW workers affected due to the pandemic outbreak. As a part of the latest change, the weekly aid will rise from $600 to $750 next week for full time workers and $450 (from $375) for part-time.

Additional comments (ABC News)

I would expect by Christmas that we would be seeing a very different Australia to what we are seeing now.

What we are seeing overseas is but one country to reach that much higher vaccination rate, which gives their governments a lot more options in the suppression limitations they have to use to deal with the virus.

Lockdowns become a thing of the past when you are at that level.

What I want to assure you of, absolutely assure you of, as you've already heard from the Premier and the Treasurer of New South Wales, that the Commonwealth government has your back just as we've had the back of Australians all through this crisis.

AUD/USD remains lackluster

AUD/USD seems to have ignored the news by staying mostly sideways around 0.7365-70.

Read: AUD/USD: Bearish consolidation continues below 0.7400 on Australia Q2 CPI

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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