Reported Earlier, Australia Trimmed Mean Consumer Price Index (QoQ) (Q1) 1.0% Vs. 0.8% Est.; 0.8% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Trimmed Mean Consumer Price Index (CPI) for Q1 showed a 1.0% increase, surpassing both the estimated 0.8% and the previous quarter's 0.8%. This indicates higher than expected inflation in Australia.
April 24, 2024 | 4:08 am
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The iShares MSCI Australia ETF (EWA) may experience short-term volatility due to the higher than expected inflation figures from Australia's Q1 Trimmed Mean CPI.
Higher than expected inflation can lead to uncertainty in the market, affecting investor sentiment towards Australian assets, including EWA. However, the direct impact on EWA's price may be moderated by global market conditions and other factors affecting Australian equities.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75