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iShares MSCI Australia ETF (EWA)

  • Jun. 13, 2013, 7:03 AM
    "One of the biggest economic bubbles in history is now about to go into the Minsky masher," writes SocGen professional bear Al Edwards of Australia (EWA, FXA), calling it a "leveraged time bomb waiting to blow." A slowing China and with it lower commodity demand are well known, but the domestic economy is just another in long (global) line of credit-fueled economic bubbles. Previous: His old partner Dylan Grice on Oz one year ago.
    | Jun. 13, 2013, 7:03 AM | Comment!
  • Jun. 11, 2013, 7:47 AM
    The Australian dollar continues its sharp descent, hitting a near 3-year low with the most recent excuse for selling last night's weak home-loan approvals report. Short-term rate futures markets have priced in another 50 bps in rate cuts over the next year from an already record-low 2.75%. FXA -1.1% premarket and the ausse is buying  $0.9349. The decline may he helping Aussie shares (EWA) which rose 0.4% in the face of a big worldwide decline.
    | Jun. 11, 2013, 7:47 AM | Comment!
  • Jun. 5, 2013, 9:32 PM
    After opening down about 1% following the big decline in the U.S., the Nikkei quickly erases the loss and turns 1.1% higher in mid-morning trade. There's no bounce in Sydney (EWA) which sits at the day's low, off 1%. The aussie (FXA) falls 0.5% to its lowest level in more than a year, buying $0.9490. S&P 500 futures +0.25%.
    | Jun. 5, 2013, 9:32 PM | Comment!
  • May 24, 2013, 4:42 PM
    The week's ETF movers - Gainers: GDXJ +6.5%. GAZ +6.3%. TAN +5.2%. UNG +4.4%. GDX +4.3%.
    ETF Losers: WPS -6.1%. EWJ -5.7%. EWA -5.6%. EPI -5.6%. IYR -3.4%.
    | May 24, 2013, 4:42 PM | Comment!
  • May 13, 2013, 4:41 PM
    Australia could see a recession in the next 18-24 months should a sharp fall in mining capex materialize, says Morgan Stanley. Other economists - including the RBA - hold out hope the retail sector and housing market will fill the void left by mining. The aussie (FXA) is off 7 big figures in a month as fx traders place their bets with the Morgan view. EWA is flat over the same period as the aussie's fall wipes out equity gains.
    | May 13, 2013, 4:41 PM | Comment!
  • May 10, 2013, 4:22 PM
    The week's ETF movers - Gainers: REMX +10.8%. URA +6.6%. TAN +6.4%. VNM +5.4%. XHB +3.4%.
    ETF Losers: GAZ -4.5%. UNG -3.6%. FXA -3.0%. EWY -2.7%. EWA -2.7%.
    | May 10, 2013, 4:22 PM | Comment!
  • May 10, 2013, 7:41 AM
    The Australian dollar (FXA) sinks below parity with the greenback for the first time since last June, a victim of a slowdown in the Aussie economy and weak commodity prices (the two are surely intertwined). Aussie stocks are rising along with the rest of the world, but the Australian Index Fund ETF (EWA) - unhedged against the currency - is lagging.
    | May 10, 2013, 7:41 AM | 2 Comments
  • May 9, 2013, 4:52 AM
    Headline numbers obscure rising unemployment in resource-rich Western Australia, where the mining industry (which accounts for 20% of the country's GDP) is suffering from weaker economic growth in China and a stubbornly high aussie (FXA). The jobless rate in Western Australia rises to 5.25% in April from 4.8% in March, hitting its highest level since 2010 and jumping more than a full percentage point YTD. Meanwhile, the headline unemployment figure prints at 5.5% for April, down from 5.6% in March. Stocks in Sydney (EWA) creep slightly lower.
    | May 9, 2013, 4:52 AM | Comment!
  • May 8, 2013, 2:52 PM
    The recent selloff in commodities (DBC) is not a correction, says Stan Druckenmiller, now on stage at Ira Sohn, but instead the end of the supercycle. Avoid commodity markets - Brazil (EWZ, BRF, BRL), South Africa (EZA, SZR), Canada (EWC, FXC). "Frankly, I'd short the aussie (FXA)." His largest equity holding? "I can't imagine a better position than Google (GOOG)" - selling for 16x earnings and no exposure to China.
    | May 8, 2013, 2:52 PM | 4 Comments
  • May 7, 2013, 10:14 AM
    The iShares Australia Index ETF (EWA -1.4%) gets a double-whammy as a rate cut overnight bangs the currency, but fails to ignite any sort of stock market rally, the ASX 200 -0.2%. U.S. fans of Oz need a hedged stock ETF. Is WisdomTree (which already offers AUSE) listening?
    | May 7, 2013, 10:14 AM | Comment!
  • Apr. 3, 2013, 2:04 AM
    Reserve Bank of Australia Governor Glenn Stevens has been reappointed for another three years ahead of the end of his first seven-year term in September. Since taking on the role in 2006, Stevens helped Australia avoid recession during the global slump of 2008-2009 and kept inflation in check. Stevens is "widely seen as a strong central bank governor from a global perspective," says former RBA economist Paul Bloxham.
    | Apr. 3, 2013, 2:04 AM | Comment!
  • Apr. 2, 2013, 2:53 AM
    As expected, the Reserve Bank of Australia has maintained its key interest rate unchanged at 3% for the third consecutive month, explaining that global growth is "forecast to be a little below average for a time, but the downside risks appear to be reduced." Employment expenses continue to contained "and businesses are focusing on lifting efficiency," the RBA said. "These trends should help to keep inflation low." (PR)
    | Apr. 2, 2013, 2:53 AM | 1 Comment
  • Mar. 17, 2013, 5:46 AM
    Australia faces a "massive hit to government revenues" that "will inevitably continue to impact beyond the current year," says Treasurer Wayne Swan. The deficit increased a further A$4.6B ($4.8B) in the first four weeks of 2013 - above Swan's February estimate of A$2B - taking the total shortfall for the first seven months of the fiscal year to A$26.8B.
    | Mar. 17, 2013, 5:46 AM | 45 Comments
  • Mar. 13, 2013, 9:34 PM
    A big jobs number out of Australia sends the aussie (FXA) to its highest level in 6 weeks, +0.8% to $1.0378. The country added 71.5K jobs in February, far greater than the 10K expected. The unemployment rate held steady at 5.4% vs. forecasts for 5.5%. The dashing of rate cut expectations is hitting shares (EWA), the ASX 200 -0.8%.
    | Mar. 13, 2013, 9:34 PM | Comment!
  • Mar. 6, 2013, 1:57 AM
    Australian GDP climbs 3.6% in 2012, representing the strongest growth since 2007 and one of the best performances in the developed world as rising exports and resource investment offset a slump in manufacturing and construction. In Q4, GDP slips to +0.6% Q/Q from +0.7% in Q3 and vs consensus of +0.6%. On year, Q4 GDP stays at 3.1% vs consensus of 3%. The Aussie is +0.3% vs the USD. (PR)
    | Mar. 6, 2013, 1:57 AM | Comment!
  • Mar. 5, 2013, 2:40 AM
    As expected, the Reserve Bank of Australia leaves its benchmark interest rate unchanged at 3% but says there is "scope to ease policy further" if necessary. "Tactically it pays the RBA to be dovish because it keeps monetary conditions loose, and should hold the Aussie dollar down somewhat," says HSBC economist Paul Bloxham.  Still, the Aussie is +0.35% vs the USD. (PR)
    | Mar. 5, 2013, 2:40 AM | Comment!
EWA vs. ETF Alternatives
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.
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Country: Australia
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