Reported Earlier, Australia Retail Sales (MoM) -0.2% Vs. -0.2% Est.; 0.9% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Retail Sales for the month showed a decline of 0.2%, which was in line with estimates but lower than the previous month's increase of 0.9%.
December 04, 2023 | 5:25 am
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NEUTRAL IMPACT
The iShares MSCI Australia ETF (EWA) may experience short-term impact due to the reported decline in Australia's Retail Sales, as the ETF includes companies that could be affected by consumer spending trends.
The iShares MSCI Australia ETF (EWA) tracks the performance of the Australian equity market, which can be influenced by domestic retail sales data. However, since the reported decline was expected and in line with estimates, the immediate impact on EWA might be neutral. The ETF's performance will depend on broader market interpretation and other economic indicators.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70