Reported Earlier, Australia Building Approvals (MoM) 7.5% Vs. 7.5% Est.; -4.6% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Building Approvals for the month showed a 7.5% increase, which is in line with the estimated 7.5% and a significant improvement from the previous -4.6%.
December 07, 2023 | 5:43 am
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POSITIVE IMPACT
The iShares MSCI Australia ETF (EWA) may experience positive sentiment due to the in-line building approvals data from Australia, indicating a stable economic environment.
The building approvals data is a key economic indicator that can influence investor sentiment regarding the health of the Australian economy. Since EWA tracks the investment results of an index composed of Australian equities, positive economic data like this can lead to increased investor confidence in the Australian market, potentially driving up the price of EWA in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70