Australia’s economic stimulus package to tackle coronavirus will be between $15bn-$20bn

Dhwani Mehta FXStreet

According to an Australian daily, the economic stimulus package likely to be announced on Thursday by PM Morison to combat the economic fallout from the coronavirus outbreak will be between $15bn-$20bn.

The local media added that the package will include one-off cash payments $500 for pensioners and those on Newstart (unemployment benefit).

AUD/USD cheers economic stimulus news

On positive developments out from Australia, the AUD/USD pair remains well bid above the 0.65 handle, as broad USD weakness also supports.

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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