Reported Earlier, Australia Employment Change For September 6.7K Vs. 20K Est.; 63.3K (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's employment change for September was reported at 6.7K, significantly lower than the estimated 20K and the revised prior figure of 63.3K.
October 19, 2023 | 5:27 am
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NEGATIVE IMPACT
The lower than expected employment change in Australia could potentially impact the performance of the iShares MSCI Australia ETF (EWA).
The iShares MSCI Australia ETF (EWA) tracks the performance of the Australian market. Lower than expected employment change figures indicate a potential slowdown in the economy, which could negatively impact the performance of the ETF in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80