Reported Earlier, Australia Retail Sales (MoM) Preliminary For June 0.5% Vs. 0.2% Est.; 0.6% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's retail sales for June increased by 0.5% month-over-month, surpassing the estimated 0.2% but slightly below the prior month's 0.6%.
July 31, 2024 | 4:44 am
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POSITIVE IMPACT
The iShares MSCI Australia ETF (EWA) may see a positive impact due to Australia's retail sales for June increasing by 0.5% MoM, surpassing the estimated 0.2%.
The better-than-expected retail sales data suggests stronger consumer spending, which is a positive indicator for the Australian economy. This could lead to a short-term increase in the price of EWA.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80