iShares MSCI Australia ETF (EWA) - NYSEARCA
  • Jun. 12, 2014, 7:41 AM
    • "The tide has turned for aussie (FXA) now that the Japanese have come back to the market,” says Geoffrey Kendrick, Morgan's chief of currency and interest rate strategy for Asia. "Their switch back into Aussie bonds signals a turn in global long-term investor sentiment."
    • The team at Morgan expects this Japanese demand to push the aussie to parity against the greenback for the first time in more than a year, extending a 5.3% advance it's already made YTD. It can be labeled a contrarian call, given the median forecast in a Bloomberg survey is for the aussie to slip to $0.89 by year's end.
    • Key for Morgan is the Reserve Bank of Australia's decision to stop cutting interest rates. With the benchmark overnight rate at 2.5% and 10-year government paper at 3.82%, Australia is drawing big money from Japanese investors craving yield of any sort.
    • Equity ETFs: EWA, AUSE, FAUS
    | Jun. 12, 2014, 7:41 AM
  • Jun. 4, 2014, 6:38 AM
    • "It's still too early to break out the champagne," says AMP Capital's Shane Oliver after Australia's Q1 GDP rose 1.1% Q/Q and 3.5% Y/Y, both beating forecasts and coming in at the quickest pace in two years. "Growth will not be sustained at this pace for the next few quarters."
    • The slowdown in Oz over the past couple of years has come about thanks to a downturn in the mining industry as demand from Asia (China) slows, and the central bank has slashed interest rates to a record-low 2.5% in response.
    • "FIve minutes of economic sunlight," is how Deutsche chief economist Adam Boyton describes the GDP report, expecting the mining investment slowdown to continue to be a drag.
    • The aussie is up 0.1% to $0.9273 and stocks in Sydney closed lower by 0.6%.
    • ETFs: FXA, EWA, AUSE, CROC, GDAY, FAUS
    | Jun. 4, 2014, 6:38 AM
  • May 9, 2014, 4:22 PM
    | May 9, 2014, 4:22 PM
  • May 8, 2014, 4:07 AM
    • Australia's jobless rate held steady at 5.8% in April and came in just below consensus of 5.9%.
    • The number of people in work climbed 14,200 after rising 22,000 a month earlier and topped consensus of +6,750.
    • The number of full-time jobs rose 14,200 following a drop of 22,800, while that for part-time positions was flat vs +40,200.
    • The participation rate slipped to 64.7% from 64.8%.
    • The increased number of jobs comes after the Reserve Bank of Australia left its benchmark interest rate at a record-low 2.5% this week amid slowing inflation and ahead of expected cuts in government spending.
    • The S&P/ASX 200 is +0.75%, while the AUD-USD is +0.6% at $0.9381. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, AUNZ, KROO, EWAS, GDAY, FAUS
    | May 8, 2014, 4:07 AM
  • Apr. 23, 2014, 2:31 AM
    • Australian CPI eased to +0.6% on quarter in Q1 from +0.8% in Q4 and came in below consensus that was also +0.8%.
    • On year, inflation rose to 2.9% from 2.7% but was below forecasts of 3.2%. The latest figure compares with the Reserve Bank of Australia's target of 2-3%.
    • Core CPI +0.5% on quarter vs +0.9% and +0.7%. On year, core inflation +2.6% vs +2.6% and +2.9%.
    • The low inflation could cool speculation that the Reserve Bank of Australia may raise interest rates from a record low of 2.5%, especially with house prices surging and amid the prospect of a looming building boom.
    • "The Reserve Bank can comfortably keep interest rates at exceptionally low levels over the near term," says economist Savanth Sebastian. "Whichever way you cut it, inflation is well and truly in check."
    • The S&P/ASX 200 is +0.7% and the AUD-USD is -0.9% at $0.9285. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, AUNZ, KROO, EWAS, GDAY, FAUS
    | Apr. 23, 2014, 2:31 AM
  • Apr. 10, 2014, 7:53 AM
    • The aussie (FXA) continues a nice run higher after Australia adds 18.1K jobs in March, far better than the 5K increase expected, and following the 48K gain in February. The unemployment rate fell to 5.8% vs. forecasts for 6%.
    • Calling the details of the report "messy," economist Shane Oliver says the picture is still broadly positive. "It's probably best to focus on the trend and it is showing monthly jobs growth of around 14,000 and unemployment rising only very slowly."
    • Goldman's a bit more cautious, characterizing the better numbers only as "stabilization."
    • The aussie is ahead 0.5% and buying $0.9434. Sydney gained 0.3% overnight.
    • ETFs: FXA, EWA, AUSE, CROC, KROO, EWAS, GDAY, FAUS
    | Apr. 10, 2014, 7:53 AM
  • Apr. 1, 2014, 2:22 AM
    • The Reserve Bank of Australia has left its overnight cash-rate target at a record low of 2.5%, as anticipated, and again indicated that it expects a "period of stability in interest rates."
    • "The decline in the exchange rate from its highs a year ago will assist in achieving balanced growth in the economy, but less so than previously as a result of the rise over the past few months," said RBA Governor Glenn Stevens.
    • The S&P/ASX 200 closes -0.1%, while the Australian dollar is +0.1% at $0.9272. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, AUNZ, KROO, EWAS, GDAY, FAUS
    | Apr. 1, 2014, 2:22 AM
  • Mar. 13, 2014, 3:31 AM
    • The number of full-time Australian jobs has risen by the largest amount since 1991, jumping by 80,500 in February vs just 2,700 in January. The increase is also the second-largest ever and indicates that the central bank's policy of record-low interest rates is having an impact.
    • The overall number of jobs increased by 47,300 vs 18,000 previously and consensus that was 18,000 also.
    • The number of part-time jobs fell by 33,200 vs growth of 3,400 in January.
    • As expected, the unemployment rate held stead at 6%.
    • The "super strong result" should ease concerns about the labor market, says economist Savanth Sebastian. "Central bank policy makers are comfortable with the way the recovery is panning out. The housing recovery continues to gather momentum, while rising wealth levels are supporting confidence."
    • The S&P/ASX 200 rose 0.5%, while the Australian dollar is +0.8% at $0.9063.
    • ETFs: FXA, EWA, AUD, AUSE, CROC, AUNZ, KROO, EWAS, GDAY, FAUS
    | Mar. 13, 2014, 3:31 AM
  • Mar. 10, 2014, 10:45 AM
    • The 8.3% dive in the price of iron ore to $104.70 per ton is the 2nd largest one-day decline on record, and came following weekend data showing an 18.1% Y/Y slump in Chinese exports in February (a gain of 7.5% was expected). While miners like BHP and RIO remain optimistic about supply/demand dynamics (though dour on price prospects), Goldman - picking one analyst team - sees the market moving into surplus in H2 and prices falling below $100 per ton.
    • The Shanghai Composite fell 2.9% overnight and Brazil's Bovespa is down 2% in the early-going. Australia (EWAdeclined 0.9% and the aussie (FXA) is off 0.6% to $0.9017.
    • The steelmaking ingredient is off 22% YTD and at its lowest price since October 2012.
    • In the meantime, the rumors are flying, including speculation a mill in China's Shanxi province defaulted on Friday and shut five to six furnaces. There's also chatter about banks looking to call in 20% of loans to private steel companies.
    • EWZ -2.1%, VALE -2.8%.
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRZU, BRAF, UBR, BRZS, DBBR, FBZ
    • Base metal mining ETFs: XME, JUNR, PICK
    | Mar. 10, 2014, 10:45 AM | 1 Comment
  • Mar. 5, 2014, 2:43 AM
    • Australia's GDP grew 0.8% on quarter in Q4 after expanding 0.6% in Q3 and topped consensus of +0.7%, lifted by increased household spending and lower savings.
    • On year, GDP +2.8% vs +2.3% and +2.5%.
    • The message from the data is that the "rebalancing act" away from mining "is under way," says HSBC economist Paul Bloxham.
    • "The Australian economy hasn't fallen in a heap since mining investment peaked," says Moody's Analytics economist Katrina Ell. "Further gains are likely as the monetary stimulus continues to filter through."
    • The S&P/ASX 200 is +0.85%, while the Australian dollar is +0.2% at $0.8973. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, AUNZ, KROO, EWAS, GDAY, FAUS
    | Mar. 5, 2014, 2:43 AM
  • Mar. 4, 2014, 3:25 AM
    • As expected, the Reserve Bank of Australia has held its key cash rate at 2.5% for the seventh month in a row and indicated that it will continue the policy amid high unemployment.
    • "On present indications the most prudent course is likely to be a period of stability in interest rates," Governor Glenn Stevens said in a statement. "The bank expects unemployment to rise further before it peaks," he added.
    • The jobless rate is at a 10-year high of 6%.
    • The S&P/ASX 200 is +0.3%, while the Australian dollar is +0.2% to $0.895. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, AUNZ, KROO, EWAS, GDAY, FAUS
    | Mar. 4, 2014, 3:25 AM
  • Feb. 4, 2014, 4:55 AM
    • As expected, the Reserve Bank of Australia has held its key cash rate at 2.5% and it has indicated the end of a two-year easing cycle.
    • "The most prudent course is likely to be a period of stability in interest rates," RBA Governor Glenn Stevens said in a statement. The Australian dollar's decline "will assist in achieving balanced growth," said Stevens, who left out references from past statements that the Aussie was "uncomfortably high."
    • Stevens expressed increased confidence in consumer demand and housing construction, and said he expects growth to strengthen beyond the short term, helped by low rates and the softer currency.
    • The S&P/ASX 200 closed -1.75%, although the Aussie has jumped 1.7% to $0.89. (PR)
    • ETFs: FXA, EWA, AUSE, CROC, KROO, GDAY, EWAS, FAUS
    | Feb. 4, 2014, 4:55 AM | 1 Comment
  • Jan. 23, 2014, 4:46 AM
    • Asian equities are mixed after preliminary data from HSBC showed that Chinese manufacturing activity contracted for the first time in six months.
    • "The weak flash PMI will inevitably inflame China slowdown worries, but this is only one data point," says strategist Linus Yip. "If more data start to also show a deeper slowdown, Beijing may be forced to stimulate in order to maintain a stable basis for growth that they need to execute reforms."
    • However, it was the Hang Seng that seemed to take the brunt of the losses, falling 1.4%, while Australia's S&P/ASX 200 dropped 1.1%.
    • The Shanghai composite closed -0.5%, with the negative mood perhaps offset by the People's Bank of China conducting 120B yuan ($19.8B) of 21-day reverse-repurchase agreements as it seeks to further defend against a credit crunch.
    • Elsewhere in Asia, Japan's Nikkei closed -0.8% and India's Sensex is +0.15%.
    • ETFs: FXI, EWA, EWH, PGJ, GXC, FXP, HAO, YINN, TAO, CHIQ, ASHR, CHIX, YANG, MCHI, PEK, KWEB, CQQQ, QQQC, XPP, AUSE, YAO, CHXX, CHII, CHXF, ECNS, CHIE, YXI, CHIM, EWHS, FCHI, KFYP, FCA, TCHI, CHNA, FHK, FAUS
    | Jan. 23, 2014, 4:46 AM | 2 Comments
  • Jan. 22, 2014, 2:33 AM
    • Australian CPI eased to +0.8% on quarter in Q4 from +1.2% in Q3 but came in above consensus of +0.5%.
    • On year, inflation rose to 2.7% from 2.2% and also topped forecasts of 2.5%. The latest figure compares with the Reserve Bank of Australia's target of 2-3% and so may reduce the scope of the RBA to further cut rates.
    • Core CPI +0.9% vs +0.7% and +0.6%. On year, core inflation +2.6%.
    • Increases in the cost of recreation, alcohol, tobacco and food led the rise in inflation, although the prices of clothing and footwear and health-related items fell.
    • The S&P/ASX 200 is -0.2% and the AUD-USD is +0.8% at $0.8875. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, KROO, GDAY, EWAS, FAUS
    | Jan. 22, 2014, 2:33 AM
  • Jan. 17, 2014, 4:18 PM
    | Jan. 17, 2014, 4:18 PM
  • Jan. 16, 2014, 4:28 AM
    • As expected, Australia's jobless rate was unchanged at 5.8% in December.
    • However, the number of people in employment fell by 22,600 after a rise 15,400 in November and badly missed consensus for an increase of 7,500.
    • The number of full-time jobs plummeted by 31,600 following an increase of 10,500, while that for part-time positions grew 9,500 vs +5,500.
    • The Australian dollar is -1.45% at $0.8786, although mining stocks helped lift the S&P/ASX 200 by 1.2% despite the disappointing figures. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, KROO, EWAS, GDAY, FAUS
    | Jan. 16, 2014, 4:28 AM
EWA Description
The iShares MSCI Australia Index Fund seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Australian market, as represented by the MSCI Australia Index.
See more details on sponsor's website
Country: Australia
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