Reported Earlier, Australia Current Account For Q4 11.8B Vs. 4.9B Est.; 1.3B (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Q4 current account surplus significantly exceeded expectations, reporting at 11.8B compared to the estimated 4.9B, and a revised prior of 1.3B.
March 05, 2024 | 5:25 am
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POSITIVE IMPACT
The iShares MSCI Australia ETF (EWA) may see positive movement due to Australia's stronger-than-expected Q4 current account surplus.
A stronger-than-expected current account surplus indicates a healthier economy, which can lead to increased investor confidence in assets related to that economy, such as the EWA ETF. The significant outperformance in the current account could lead to positive sentiment among investors, potentially driving up the price of EWA in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80