Reported Earlier, Australia Building Approvals (MoM) 1.6% Vs. 1.6% Est.; 7.2% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Building Approvals for the month showed a 1.6% increase, which is in line with the estimated 1.6% and a decrease from the previous 7.2%.
January 16, 2024 | 6:26 am
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NEUTRAL IMPACT
The iShares MSCI Australia ETF (EWA) may experience minor fluctuations due to the building approvals report matching estimates, indicating a stable economic environment in Australia.
Since the building approvals data came in as expected, there is no significant surprise that would cause a major shift in investor sentiment towards Australian markets or the EWA ETF. However, the data does support a stable economic outlook, which could maintain investor confidence in Australian assets.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 70