Reported Earlier, Australia Current Account For Q1 -4.9B Vs. 5.6B Est.; 2.7B (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's current account for Q1 reported a deficit of -4.9 billion AUD, missing the estimated 5.6 billion AUD surplus and down from the revised 2.7 billion AUD surplus in the previous quarter.
June 04, 2024 | 5:02 am
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NEGATIVE IMPACT
The iShares MSCI Australia ETF (EWA) may experience short-term volatility due to Australia's Q1 current account deficit of -4.9 billion AUD, which missed the estimated 5.6 billion AUD surplus.
The significant miss in Australia's current account figures is likely to impact investor sentiment negatively towards Australian equities, which EWA tracks. This could lead to short-term price declines.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80