Reported Earlier, Australia Employment Change For November 61.5K Vs. 11.0K Est.; 42.7K (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's employment change for November was reported at 61.5K, significantly surpassing the estimate of 11.0K and the previous month's revised figure of 42.7K.
December 14, 2023 | 5:51 am
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POSITIVE IMPACT
The iShares MSCI Australia ETF (EWA) may see positive movement as the strong employment report indicates a robust Australian economy.
The positive employment change in Australia suggests a healthier economy, which can lead to increased investor confidence in Australian markets and assets, such as EWA. As EWA tracks the investment results of an index composed of Australian equities, improved economic indicators like employment growth can lead to a rise in the ETF's value in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80