Reported Earlier, Australia Building Approvals (MoM) Preliminary For October 7.5% Vs. 1.4% Est.; -4% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Building Approvals for October showed a significant increase of 7.5% month-over-month, surpassing the estimated 1.4%. This is a notable rebound from the previous month's revised figure of -4%.
November 30, 2023 | 5:53 am
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POSITIVE IMPACT
The iShares MSCI Australia ETF (EWA) may experience positive short-term movement due to the strong increase in Australia's Building Approvals, indicating potential economic growth.
The iShares MSCI Australia ETF (EWA) is likely to be positively impacted in the short term as the building approvals are a key economic indicator suggesting growth in the construction sector, which can lead to increased investor confidence in the Australian market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75