Australia, Indonesia seal free trade deal – Associated Press

Dhwani Mehta FXStreet

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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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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