Reported Earlier, Australia Retail Sales (MoM) For September 0.1% Vs. 0.3% Est.; 0.7% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's retail sales for September increased by 0.1% month-over-month, falling short of the 0.3% estimate and down from the 0.7% growth in the previous month.
October 31, 2024 | 5:30 am
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NEGATIVE IMPACT
The iShares MSCI Australia ETF (EWA) may experience a short-term negative impact due to Australia's retail sales growth for September being lower than expected at 0.1%, compared to the 0.3% estimate.
EWA, an ETF that tracks Australian equities, could be negatively impacted as retail sales growth, a key economic indicator, was lower than expected. This may signal weaker consumer spending, affecting investor sentiment towards Australian markets.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80