Bearish sentiments seem to abound for the AUD as Australian Treasurer, Josh Frydenberg has forecast the unemployment rate to hit 9.25% by end of 2020 – and might potentially increase to 10.75%. With that – it would be the highest unemployment rate in 26 years. Frydenberg is also forecasting a budget deficit of $184.5bn in 2020/21. On the Covid 19 font, Victoria is expected to report more than 700 cases.
Stay alert, Aussie traders!
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