Reported Earlier, Australia Producer Price Index (YoY) 4.1% Vs. 3.8% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Producer Price Index (PPI) increased to 4.1% year-over-year, surpassing the previous 3.8%. This indicates higher production costs, potentially affecting companies with significant operations in Australia.
February 02, 2024 | 5:37 am
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The iShares MSCI Australia ETF (EWA) may experience short-term volatility due to the reported increase in Australia's PPI, indicating higher production costs.
The iShares MSCI Australia ETF (EWA), which tracks the investment results of an index composed of Australian equities, may be indirectly affected by the increase in the Producer Price Index as it reflects higher production costs in Australia. This could lead to volatility in the ETF's performance in the short term, as companies within the ETF's portfolio may face increased operational costs, potentially impacting their profitability.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80