iShares MSCI Australia ETF (EWA) - NYSEARCA
  • Dec. 17, 2013, 3:02 AM
    • Australia's conservative government has forecast a budget deficit of A$47B (U.S. $42.3B) in the year ending June 30, well above a projection in August by the previous Labor government of A$30.1B.
    • Treasurer Joe Hockey said returning to sustainable surpluses would take at least a decade, and would "require a sustained and fundamental structural overhaul of expenditure."
    • Hockey left a prediction for GDP growth of 2.5% unchanged, but said unemployment would rise to 6% vs a previous forecast of 6.25% and 5.8% in November.
    • The S&P/ASX 200 is +0.3% and the AUD-USD is -1% at $0.8941.
    • ETFs: FXA, EWA, AUD, AUSE, CROC, KROO, EWAS, GDAY, FAUS
    | Dec. 17, 2013, 3:02 AM
  • Dec. 13, 2013, 4:53 PM
    | Dec. 13, 2013, 4:53 PM | 2 Comments
  • Dec. 12, 2013, 2:32 AM
    • As expected, Australia's jobless rate edged up to 5.8% in November from 5.7% in October as more people entered the labor force.
    • However, the number of people in work rose by 21,000 - the largest increase in seven months - after a fall of 700 and topped consensus of 10,000.
    • The number of full-time jobs increased by 15,500 following a drop of 31,100, while that for part-time positions grew 5,500 vs +28,900.
    • The S&P/ASX 200 is -0.7%, while the AUD-USD is -0.3%. (PR)
    • ETFs: FXA, EWA, AUD, AUSE, CROC, KROO, EWAS, GDAY, FAUS
    | Dec. 12, 2013, 2:32 AM
  • Dec. 11, 2013, 3:44 AM
    • GM (GM) intends to follow in Ford's footsteps and halt manufacturing in Australia by 2017.
    • GM will take pretax charges of $400-$600M in Q4, while 2,900 workers will lose their jobs.
    • "The decision to end manufacturing in Australia reflects the perfect storm of negative influences the automotive industry faces in the country, including the sustained strength of the Australian dollar, high cost of production, small domestic market, and arguably the most competitive and fragmented auto market in the world," outgoing GM CEO Dan Akerson said.
    • GM's decision will leave Toyota (TM) as the last major car manufacturer in Australia, although the latter might now also leave. The move will "place unprecedented pressure on the local supplier network and our ability to build cars in Australia," Toyota said.
    • The country's car industry is now in serious danger of collapse; it supports over 40,000 workers and 150 supplier companies. (PR)
    • Australia ETFs: EWA, AUSE, FAUS
    | Dec. 11, 2013, 3:44 AM
  • Dec. 2, 2013, 11:36 PM
    • Australia stands pat, holding its key interest rate at 2.5%.
    • The aussie is “still uncomfortably high,” the RBA says, adding that "a lower level of the exchange rate is likely to be needed to achieve balanced growth."
    • "The economy has been growing a bit below trend over the past year and the unemployment rate has edged higher," Governor Glenn Stevens notes, before predicting that this dynamic "is likely to persist in the near term, as the economy adjusts to lower levels of mining investment."
    • The aussie weakened on the news, trading down 0.3% against the greenback.
    • ETFs: FXA, EWA, AUD, AUSE, CROC, KROO, EWAS, GDAY, FAUS
    | Dec. 2, 2013, 11:36 PM
  • Nov. 7, 2013, 4:50 AM
    • As expected, Australia's unemployment rate held steady at 5.7% in October.
    • Employment rose by 1,100 workers, down from +3,300 in September and way below expectations of +10,000.
    • Full-time employment slumped by 27,900 vs -1,800 prior, while part-time employment increased by 28,900 vs a rise of 5,200.
    • The jobs report "keeps that easing bias in place," says economist Michael Blythe, who was referring to the Reserve Bank of Australia's monetary policy.
    • The AUD-USD is -0.4% to $0.9486, while the S&P/ASX 200 is -0.2%. (PR)
    • ETFs - Stocks: EWA, EWAS, KROO, AUSE, FAUS. Bonds: AUD, AUNZ. Currency: FXA, GDAY, CROC.
    | Nov. 7, 2013, 4:50 AM
  • Nov. 5, 2013, 2:50 AM
    • As expected, the Reserve Bank of Australia has left its key overnight cash-rate target at a record low of 2.5%.
    • RBA Governor Glenn Stevens said the Australian dollar is "uncomfortably high" and needs to fall for the country to achieve balanced growth.
    • "The RBA is certainly using stronger language," says HSBC economist Paul Bloxham. "I think they're really trying to jawbone the Aussie dollar lower if they can.
    • Still, markets don't expect a rate move in the next half year, especially with low borrowing costs boosting house prices.
    • The AUD-USD is -0.3% to $0.9483, while the S&P/ASX 200 is +0.8%. (PR)
    • ETFs - Stocks: EWA, EWAS, KROO, AUSE, FAUS. Bonds: AUD, AUNZ. Currency: FXA, GDAY, CROC.
    | Nov. 5, 2013, 2:50 AM
  • Oct. 23, 2013, 2:02 AM
    • Australian CPI +1.2% on quarter in Q3 vs +0.4% previously and consensus of +0.8%.
    • On year, CPI +2.2% vs +2.4% and +1.8%.
    • Transport prices rose 2.4% on quarter as fuel prices increased; housing costs +2%.
    • "It's still a story that inflation is subdued but perhaps it's not so much of a non-issue as markets have thought," says economist Besa Deda. "It makes the hurdle for an RBA cut a little higher and our expectation is that they won't cut any further, but will keep rates on hold for longer."
    • Interest rates are at a record low 2.5%.
    • S&P/ASX 200 -0.3%; AUD-USD -0.6% to $0.9654.
    • ETFs - Stocks: EWA, EWAS, KROO, AUSE, FAUS. Bonds: AUD, AUNZ. Currency: FXA, GDAY, CROC.
    | Oct. 23, 2013, 2:02 AM | 1 Comment
  • Oct. 18, 2013, 4:37 PM
    | Oct. 18, 2013, 4:37 PM
  • Oct. 15, 2013, 7:04 AM
    • The aussie (FXA) pops to its highest level since after minutes from the RBA's October 1 policy meeting show the bank shifting to a more neutral bias going forward. "The effect of low interest rates was evident across a range of indicators and had further to run,” according to the release.
    • The bank on October 1 left its benchmark rate unchanged at a record-low 2.5% after cutting rates 225 basis points over the previous two years.
    • The aussie is ahead 0.4% to $0.9523.
    • Shares in Sydney (EWArose 1% overnight.
    | Oct. 15, 2013, 7:04 AM
  • Oct. 10, 2013, 3:28 AM
    • Australian unemployment nudged down to 5.6% in September from 5.8% in August and vs consensus of 5.8%.
    • The number of jobs rose by 9,100 vs a drop of 10,200, although the growth missed forecasts of +15,000.
    • "The chances of another rate cut this cycle continue to recede," says economist Craig James. "The main hope of another rate cut lies with an exceptionally strong Aussie dollar." (PR)
    • S&P/ASX 200 -0.1%; AUD-USD -0.3% to $0.9417.
    • ETFs - Stocks: EWA, EWAS, KROO, AUSE, FAUS. Bonds: AUD, AUNZ. Currency: FXA, GDAY, CROC.
    | Oct. 10, 2013, 3:28 AM
  • Oct. 1, 2013, 3:00 AM
    • As expected, the Reserve Bank of Australia has left its cash-rate target at a record low of 2.5%, explaining that prior reductions are filtering into the wider economy and boosting asset prices.
    • The RBA continues to expect the economy to grow below trend as it "adjusts to lower levels of mining investment," and for inflation to remain in line with medium-term targets.
    • The AUD-USD is +1.1% at US$0.9422, while shares are -0.2%. (PR)
    • ETFs - Stocks: EWA, EWAS, KROO, AUSE, FAUS. Bonds: AUD, AUNZ. Currency: FXA, GDAY, CROC.
    | Oct. 1, 2013, 3:00 AM
  • Sep. 25, 2013, 7:39 AM
    • The famously bearish-on-China Jim Chanos and Goldman's former sunny BRIC evangelist Jim O'Neill spent half an hour talking China at a Bloomberg conference last night.
    • China will have a "credit event" in five years, says Chanos; the Chinese economy will double in five years to $16T (the size of the U.S.), says O'Neill.
    • I can't really argue with being short the 'old' China," says O'Neill. Any slowing of the economy is being done deliberately in order to shift from a focus on investment to one on consumption. The "new" China will lead to investment opportunity.
    • If you think the macro picture in China is ugly, wait until you look at he micro picture, says Chanos.
    • Among the points the two agree on is mining - the industry will face difficulties. Those countries (Brazil and Australia come to mind) with exposure to iron ore will be in trouble over the next 12 months, says Chanos.
    • Brazil ETFs: EWZ, BRF, EWZS, BRAF, BRXX, UBR, BZQ, BRAZ, BRAQ, BRZS, BRZU.
    • Aussie ETFs: EWA, EWAS, KROO, AUSE, FAUS, Bonds: AUD, AUNZ, FXA, GDAY, CROC.
    • China ETFS: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYPHAO, ECNS.
    | Sep. 25, 2013, 7:39 AM
  • Sep. 11, 2013, 11:01 PM
    • Australia August unemployment: 5.8% versus 5.7% in July.
    • The unemployment rate now sits at its highest level since 2009, while the participation rate — at 65% — is at its lowest level in more than six years, according to the Australian.
    • The aussie slides 0.7% on the news to 0.9265, on speculation the data will give the RBA an excuse to cut rates further.
    • ASX +0.3%
    • ETFs - Stocks: EWA, EWAS, KROO, AUSE, FAUS Bonds: AUD, AUNZ Currency: FXA, GDAY, CROC
    | Sep. 11, 2013, 11:01 PM
  • Sep. 8, 2013, 10:14 PM
    | Sep. 8, 2013, 10:14 PM
  • Sep. 7, 2013, 6:55 PM
    • "The sectors that benefit the most would be the materials, particularly mining stocks," one economist said Thursday, regarding the prospect of a Tony Abbott victory in Australia.
    • Abbott did indeed emerge victorious and will become the country's 27th prime minister after being sworn in next week.
    • Of particular note is Abbott's promise to repeal a mining tax, a move expected to benefit Rio Tinto (RIO) and BHP Billiton (BHP). Also on watch: Newcrest Mining (NCMGF.PK)
    • ETFs - Stocks: EWA, EWAS, KROO, AUSE, FAUS Bonds: AUD, AUNZ Currency: FXA, GDAY, CROC
    | Sep. 7, 2013, 6:55 PM | 6 Comments
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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