Reported Earlier, Australia Building Approvals (MoM) Preliminary For September 4.4% Vs. 2.2% Est.; -3.9% (Revised) Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's building approvals for September increased by 4.4%, surpassing the estimated 2.2% and recovering from a revised -3.9% in the previous month. This data may impact the iShares MSCI Australia ETF (EWA), which tracks the performance of the Australian equity market.
October 31, 2024 | 5:30 am
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The iShares MSCI Australia ETF (EWA) may see a positive impact due to the better-than-expected building approvals data from Australia, indicating potential economic growth.
The significant increase in building approvals suggests a rebound in the Australian construction sector, which is a positive economic indicator. As EWA tracks the Australian equity market, this could lead to increased investor confidence and a potential rise in the ETF's price.
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