Australia Trade Balance For August 9.640B Vs. 8.725B Est.; 8.039B Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's trade balance for August was reported at 9.640B, higher than the estimated 8.725B and the prior figure of 8.039B.
October 05, 2023 | 4:36 am
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POSITIVE IMPACT
The higher than expected trade balance in Australia may positively impact the iShares MSCI Australia ETF (EWA).
A higher trade balance indicates a surplus, meaning that the country's exports are greater than its imports. This is generally seen as positive for the country's economy and can lead to a strengthening of its currency. As EWA tracks the investment results of an index composed of Australian equities, a stronger Australian economy and currency can lead to higher returns for the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80