Reported Earlier, Australia Unemployment Rate For March 3.8% Vs. 3.9% Est.; 3.7% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's unemployment rate for March was reported at 3.8%, slightly better than the estimated 3.9% and a slight increase from the previous 3.7%.
April 18, 2024 | 5:00 am
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POSITIVE IMPACT
The iShares MSCI Australia ETF (EWA) may see a positive short-term impact due to the better-than-expected unemployment rate in Australia for March.
The better-than-expected unemployment rate in Australia suggests a stronger economy, which can lead to increased investor confidence in Australian markets. As EWA tracks the investment results of an index composed of Australian equities, positive economic indicators like a lower unemployment rate can lead to increased investment in EWA, potentially boosting its price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80