Australia, Indonesia seal free trade deal – Associated Press
|In a joint press conference on Monday, the Australian PM Morrison and Indonesian President Joko Widodo announced that an historic trade deal between both countries kick-off, as Australia will open Indonesia's first foreign university campus and consider watering down its travel warnings, per Associated Press.
Key Quotes:
Challenges around terrorism, foreign fighters and influence are still front of mind.
Monash University will set-up Indonesia's first foreign campus - a move he described as a very good example of how this is a two-way street.
Market Implications:
The Indonesian rupiah remains under pressure despite the trade-positive headlines, as growing China coronavirus concerns continue to weigh down on the Asian currencies. At the press time, USD/IDR trades at a new three-day high of 13,720, up 0.37% on the day.
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