Reported Earlier, Australia Retail Sales (MoM) 1.1% Vs. 1.1% Est.; -2.1% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Retail Sales for the month showed a growth of 1.1%, aligning with the estimates and marking a significant improvement from the previous month's decline of -2.1%.
March 06, 2024 | 5:29 am
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POSITIVE IMPACT
The iShares MSCI Australia ETF (EWA) may see positive movement as Australia's Retail Sales indicate economic recovery and consumer confidence.
Given that EWA tracks the investment results of an index composed of Australian equities, positive retail sales data suggests a healthier economy, potentially leading to increased investor confidence in Australian markets and, by extension, EWA.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80