Australian Treasurer Frydenberg: Recession will dampen participation, productivity

Dhwani Mehta FXStreet

“The budget coming up on October 6 will be addressed at a 'unique' recession, said Australian Treasurer Josh Frydenberg while speaking at a news briefing in Canberra this Thursday.

Additional quotes

“Strategy is for a focus on a jobs-led recovery.”

“Recession will dampen participation, productivity.”

“Medium-term budget position to weaken.”

“Australia to have a lower level of prices, wages.”

Market reaction

The above comments failed to move the aussie, as AUD/USD licks its wounds around 0.7075, finding some support from the bounce in the S&P 500 futures.

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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