Reported Earlier, Australia Home Loans MoM -2.0% Vs. 2.0% Est.; 4.5% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's home loans decreased by 2.0% month-over-month, missing the estimated 2.0% increase and down from the revised 4.5% prior. This could impact ETFs with significant exposure to the Australian market.
July 08, 2024 | 4:44 am
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NEGATIVE IMPACT
The iShares MSCI Australia ETF (EWA) may see short-term pressure due to the unexpected decline in Australia's home loans, which fell by 2.0% MoM against an estimated 2.0% increase.
The decline in home loans suggests potential weakness in the Australian housing market, which could negatively impact the performance of EWA, an ETF with significant exposure to Australian equities.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80