Reported Earlier, Australia Trade Balance 6.548B Vs. 5.370B Est.; 4.841B (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's trade balance for the latest period came in at 6.548 billion AUD, significantly higher than the estimated 5.370 billion AUD and the revised prior figure of 4.841 billion AUD.
June 06, 2024 | 4:14 am
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POSITIVE IMPACT
The iShares MSCI Australia ETF (EWA) is likely to see a positive impact due to Australia's trade balance significantly exceeding expectations.
A higher-than-expected trade balance indicates a stronger Australian economy, which is likely to positively impact the iShares MSCI Australia ETF (EWA) as it tracks Australian equities.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100