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Australian dollar exchange rate affected due to China's travel warning to Australia, Fed relaxes conditions for Main Street loan program

Australian dollar exchange rate affected due to China's travel warning to Australia
After the Chinese Ministry of Culture and Tourism issued a warning to Australia earlier, it is recommended that Chinese tourists should not travel to Australia. The Ministry of Education of China also posted on the website on Tuesday (9th) that before the spread of the New Coronary Pneumonia epidemic has not been effectively controlled, there are risks in both international travel and open campus. In addition, there are multiple incidents of discrimination against Asians in Australia, so the study abroad warning No. 1 in 2020 was issued to remind the majority of international students to do a risk assessment and carefully choose to study in Australia. The news rekindled the market's concerns about the vicious relationship between China and Australia, which dragged the Australian dollar exchange rate from an 11-month high.

Fed relaxes conditions for Main Street loan program
US Federal Reserve Chairman Powell said that the Bureau will relax the conditions of the Main Street loan program from the initial minimum loan amount from US$500,000 to US$250,000. The maximum amount will vary from company to company, but may be The previous 200 million US dollars increased to 300 million US dollars. In addition, the loan term was extended from 4 years to 5 years. At the same time, financial institutions are also encouraged to lend to SMEs immediately after registering to join the scheme. This will help SMEs to prepare for resumption of production and re-employment of workers, and promote economic recovery.




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