Reported Earlier, Australia Trade Balance For November 11.437B Vs. 7.500B Est.; 7.660B (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's trade balance for November was reported at 11.437 billion AUD, significantly higher than the estimated 7.500 billion AUD and the previous month's revised figure of 7.660 billion AUD.
January 11, 2024 | 5:21 am
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POSITIVE IMPACT
The iShares MSCI Australia ETF (EWA) may see a positive impact as the higher than expected trade balance indicates a stronger Australian economy, which could lead to increased investor confidence in Australian assets.
The iShares MSCI Australia ETF (EWA) tracks the investment results of an index composed of Australian equities. A higher trade balance suggests a stronger economy, which can lead to appreciation of the Australian dollar and improved performance of Australian stocks. This could result in increased demand for EWA as investors seek exposure to the Australian market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80