Reported Earlier, Australia Retail Sales (MoM) Preliminary For December 2.0% Vs. 1.2% Est.; -0.4% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's retail sales for December showed a significant increase of 2.0% month-over-month, surpassing the estimated 1.2% and rebounding from the prior month's revised figure of -0.4%.
January 09, 2024 | 5:21 am
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POSITIVE IMPACT
The iShares MSCI Australia ETF (EWA) may see positive short-term movement due to stronger than expected retail sales data from Australia for December.
The iShares MSCI Australia ETF (EWA) tracks the investment results of an index composed of Australian equities. The positive retail sales data is an indicator of a healthy economy, which can lead to increased investor confidence in Australian markets and potentially drive up the price of EWA in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80