The United States has entered a government shutdown after Congress failed to reach a budget agreement, forcing several federal agencies to partially suspend operations. Among the most affected are statistical and economic reporting agencies, including the Labor Department, Commerce Department, and the Bureau of Economic Analysis (BEA).

BEIJING — China’s manufacturing PMI came in at 49.8 in September, marking a sixth consecutive month below the 50 mark despite edging up from 49.4 in August. The non-manufacturing PMI also slipped to 50.0, highlighting slowing momentum across sectors.

BANGKOK — Thailand’s baht has surged roughly 8% against the U.S. dollar in 2025, marking a four-year high. While that currency strength signals confidence in Thailand’s macroeconomy, it also threatens the country’s exporters and tourism sector — critical pillars in a year when global demand is cooling.

China has announced it will no longer seek Special & Differential Treatment (SDT) in future World Trade Organization (WTO) negotiations, even though it will continue to self-identify as a “developing country.”

Sydney, September 22, 2025 — Reserve Bank of Australia (RBA) Governor Michele Bullock said the nation’s labor market is “close to full employment,” with the unemployment rate hovering around 4.2%, a historically low level.

The U.S. Federal Reserve (Fed) has decided to keep its benchmark interest rate at 4.25%-4.5% during its March 19, 2025 meeting while signaling the possibility of two rate cuts later this year. Despite ongoing economic challenges, including trade tariffs and inflationary pressures, the Fed maintains its cautious approach to monetary policy.

The Malaysian ringgit, which was the strongest currency in Asia last year, is now showing signs of weakening amid rising trade tensions. The U.S. has imposed new import tariffs on Chinese goods, impacting Malaysia’s economy and potentially forcing Bank Negara Malaysia to cut interest rates by 0.25%.

Dollar Strengthens as Yen Faces Pressure On Wednesday morning, the USD/JPY pair surged near ¥153.50 following remarks by Kazuo Ueda, Governor of the Bank of Japan (BoJ). Speaking in parliament, Ueda stated that the central bank has no plans to raise interest rates or scale back its stimulus measures anytime soon.

On February 12, 2025, Federal Reserve Chair Jerome Powell testified before the U.S. House Financial Services Committee as part of the Fed’s semiannual monetary policy report. He emphasized that the U.S. economy remains strong, with a low unemployment rate of 4% and inflation still above the Fed’s 2% target. Powell stated that there is no urgent need to cut interest rates at this time.