Reported Earlier, Australia Unemployment Rate For November 3.9% Vs. 3.8% Est.; 3.8% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's unemployment rate for November was reported at 3.9%, slightly higher than the estimated 3.8% but consistent with the revised prior rate of 3.8%.
December 14, 2023 | 5:52 am
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The iShares MSCI Australia ETF (EWA) may experience minor fluctuations due to the reported unemployment rate in Australia being slightly higher than expected.
While the unemployment rate is a key economic indicator, the small deviation from the estimate is unlikely to cause significant market movements. EWA, which tracks the investment results of an index composed of Australian equities, may see some short-term impact, but the change in unemployment is marginal and may already be priced in.
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