Reported Earlier, Australia Building Approvals (MoM) Preliminary For June -6.5% Vs. -2.3% Est.; 5.7% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's building approvals for June fell by 6.5% month-over-month, significantly worse than the estimated decline of 2.3% and a sharp drop from the revised 5.7% increase in the prior month.
July 30, 2024 | 4:33 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may experience some volatility due to the significant decline in Australia's building approvals for June, as it could affect global market sentiment.
The sharp decline in Australia's building approvals could impact global market sentiment, potentially causing some volatility in EWU. However, the direct impact may be limited as EWU focuses on the UK market.
CONFIDENCE 70
IMPORTANCE 40
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