Reported Earlier, Australia Home Loans (MoM) -5.6% Vs. 0.3% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Home Loans for the month showed a significant decline of 5.6%, a stark contrast to the previous month's revised figure of 0.3% growth. This indicates a cooling in the housing market, which could have broader implications for the economy.
February 02, 2024 | 5:35 am
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The iShares MSCI Australia ETF (EWA) could see short-term volatility due to the unexpected decline in home loans, indicating a potential cooling in the Australian economy.
The iShares MSCI Australia ETF (EWA) is directly impacted by economic indicators from Australia. A significant decline in home loans suggests a cooling housing market, which can negatively affect the broader economy and, by extension, the performance of EWA in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80