Reported Earlier, Australia Retail Sales (MoM) Preliminary For January 1.1% Vs. 1.6% Est.; -2.1% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's retail sales for January showed a preliminary increase of 1.1%, which is below the estimated 1.6% but an improvement from the previous month's revised -2.1%.
February 29, 2024 | 5:16 am
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POSITIVE IMPACT
The iShares MSCI Australia ETF (EWA) may see short-term impact due to the reported increase in Australia's retail sales for January, indicating a potential economic rebound.
The iShares MSCI Australia ETF (EWA) is likely to be impacted by the retail sales report as it reflects economic activity in Australia. A better-than-expected report could have led to a more positive impact, but the increase from the previous month's decline still suggests potential economic recovery, which could be positive for EWA in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75