Reported Earlier, Australia Building Approvals (MoM) -1.9% Vs. -1.9% Est.; -2.5% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Building Approvals for the month showed a decrease of 1.9%, aligning with the estimated -1.9% and showing a slight improvement from the previous -2.5% (revised).

April 11, 2024 | 4:31 am
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NEUTRAL IMPACT
The iShares MSCI Australia ETF (EWA) may experience minor fluctuations due to the latest building approvals data from Australia.
While the building approvals data directly relates to Australia's economic health, its impact on EWA is likely to be minimal in the short term. The data came in as expected, which means there might not be significant market reactions. However, as EWA tracks the investment results of an index composed of Australian equities, any economic indicators out of Australia, like building approvals, can cause slight price adjustments.
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