Reported Earlier, Australia Employment Change For March -6.6K Vs. 7.2K Est.; 117.6K (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's employment change for March reported a decrease of 6.6K, missing the estimated increase of 7.2K and marking a significant drop from the prior month's revised figure of 117.6K.
April 18, 2024 | 4:59 am
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NEGATIVE IMPACT
The iShares MSCI Australia ETF (EWA) may experience short-term volatility due to the unexpected negative employment change in Australia for March.
As EWA tracks the investment results of an index composed of Australian equities, negative employment data suggests a potential slowdown in economic activity, which could impact investor sentiment and the performance of Australian stocks in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80