In his testimony to the Aussie Parliament, Treasury Secretary Steven Kennedy warned over the spike in long-term unemployment due to the jump in people who lost their jobs in March last year. The expiry of the government-backed JobKeeper program will lead to the closure of some firms and result in job losses, signaled the diplomat while also suggesting youth employment is still 3.8% down on where it was pre-virus. The policymaker also said, “economy has recovered 85% of the decline from COVID-induced recession.” FX implications Following the news, AUD/USD fades recent bounce off monthly low while taking rounds to 0.7630. Read: AUD/USD: Consolidates heaviest drop in a month above 0.7600 even as risk-off prevails FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Silver Price Analysis: XAG/USD sellers attack key Fibonacci retracement support around $25.00 FX Street 9 months In his testimony to the Aussie Parliament, Treasury Secretary Steven Kennedy warned over the spike in long-term unemployment due to the jump in people who lost their jobs in March last year. The expiry of the government-backed JobKeeper program will lead to the closure of some firms and result in job losses, signaled the diplomat while also suggesting youth employment is still 3.8% down on where it was pre-virus. The policymaker also said, "economy has recovered 85% of the decline from COVID-induced recession." FX implications Following the news, AUD/USD fades recent bounce off monthly low while taking rounds to 0.7630.… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
