Reported Earlier, Australia Consumer Price Index (YoY) (Q1) 3.6% Vs. 3.4% Est.; 4.1% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Consumer Price Index (CPI) for Q1 reported at 3.6%, surpassing the estimated 3.4% and showing a decrease from the prior 4.1%.
April 24, 2024 | 4:08 am
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The iShares MSCI Australia ETF (EWA) may see short-term impact due to Australia's Q1 CPI report indicating a cooling inflation.
The reported CPI indicates a cooling inflation scenario in Australia, which could lead to a positive market sentiment towards Australian assets, including ETFs like EWA that track the Australian market. A lower than expected inflation rate can be seen as positive for the economy, potentially leading to increased consumer spending and investment in Australian markets.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75