Reported Last Monday, Australia Current Account For Q3 -0.2B Vs. 3.1B Est.; 7.8B (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's current account for Q3 reported a deficit of 0.2 billion, contrasting with the estimated surplus of 3.1 billion and the revised prior surplus of 7.8 billion.

December 05, 2023 | 5:57 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
The iShares MSCI Australia ETF (EWA) may face short-term negative impact due to the unexpected current account deficit reported for Australia in Q3.
The iShares MSCI Australia ETF (EWA), which tracks the investment results of an index composed of Australian equities, is likely to be impacted by the negative surprise in Australia's current account for Q3. Investors may view this deficit as a sign of economic weakness, which could reduce investor confidence in Australian markets and, by extension, in EWA. However, the ETF's performance is also influenced by other factors, including global market conditions and commodity prices, which could mitigate the impact.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80