Reported Earlier, Australia Trimmed Mean Consumer Price Index (QoQ) For Q3 1.2% Vs. 1.1% Est.; 1% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Trimmed Mean Consumer Price Index (QoQ) for Q3 has been reported at 1.2%, higher than the estimated 1.1% and the revised prior of 1%. This indicates a higher than expected inflation rate in Australia.
October 25, 2023 | 5:18 am
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The higher than expected inflation rate in Australia could impact the iShares MSCI Australia ETF (EWA).
Inflation rates can impact the value of a country's currency, which in turn can affect the value of ETFs that track that country's stock market. In this case, the higher than expected inflation rate in Australia could lead to a decrease in the value of the Australian dollar, which could negatively impact the value of the EWA ETF.
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IMPORTANCE 75
RELEVANCE 100