Reported Earlier, Australia Producer Price Index (QoQ) For Q3 0.9% Vs. 0.7% Est.; 1.0% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Producer Price Index (PPI) for Q3 increased by 0.9%, surpassing the estimated 0.7% but slightly below the previous quarter's 1.0%. This data may influence the iShares MSCI Australia ETF (EWA), which tracks Australian equities.
November 01, 2024 | 4:55 am
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The iShares MSCI Australia ETF (EWA) may experience short-term price movements due to Australia's Q3 PPI rising by 0.9%, exceeding expectations. This indicates potential inflationary pressures in the Australian economy.
The higher-than-expected PPI suggests increased production costs, which could lead to inflationary pressures. This may affect Australian equities, impacting EWA, which tracks these equities.
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