Reported Earlier, Australia Trade Balance 5.024B Vs. 7.190B Est.; 6.591B (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's trade balance for the reported period was AUD 5.024 billion, falling short of the estimated AUD 7.190 billion and below the prior revised figure of AUD 6.591 billion.
May 02, 2024 | 5:13 am
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NEGATIVE IMPACT
The lower-than-expected trade balance in Australia could lead to a negative short-term impact on EWA, reflecting concerns over Australia's economic performance.
EWA, being an ETF that tracks the performance of the Australian market, is directly impacted by economic indicators such as the trade balance. A lower-than-expected trade balance suggests a potential slowdown in economic activity, which could dampen investor sentiment towards Australian equities, thus negatively affecting EWA's performance in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80