Global
The House of Representatives voted to end the government shutdown this morning (Asia time) after the US Senate passed a bill to end the shutdown on Monday. President Trump is expected to sign the bill imminently. The fate of pending data releases, however, is still not clear. October CPI is slated for release tonight, but the White House press secretary Karoline Leavitt did say that the October jobs and CPI reports may not be released at all. In terms of Fed speak, Susan Collins noted that she favours holding rates ‘for some time’, similar to Raphael Bostic. Stephan Miran’s comments focused more on the balance sheet, stating that that he is in favour of the Fed using the balance sheet more judiciously and that interest on reserve balances cannot be removed. US equities were mixed as S&P (+0.06%) and Dow (+0.68%) closed the session higher but NASDAQ ended in red (-0.26%).
Market Watch
Data releases today include Australia’s October employment data – which showed employment gains of 42.2K, UK preliminary 3Q25 GDP and September activity data and Eurozone September industrial production. ECB releases its economic bulletin, Fed’s Daly and Kashkari speak tonight.
Indonesia
Indonesia and Saudi Arabia have begun bilateral discussions to expand tourism exchanges, aiming to strengthening cooperation and mutual growth in the tourism sector. Indonesian Tourism Minister Widiyanti Wardhana met with her Saudi counterpart Ahmed Al Khateeb in Riyadh, highlighting Indonesia’s hope that more Saudi tourists will explore its cultural and natural attractions, “especially during extended holidays”. Minister Wardhana stressed that long-standing bilateral ties provide a strong foundation for collaboration, particularly under an existing memorandum of understanding covering tourist exchange, human resource development, and tourism investments. Minister Al Khateeb welcomed Indonesia’s enthusiasm and assured Saudi Arabia’s commitment to advancing the agreed initiatives. The bilateral meeting coincided with Minister Wardhana’s participation in the UN Tourism General Assembly in Riyadh.
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