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EWA - EWA: Australia's China Woes May Limit Further Gains
iShares MSCI Australia Index Fund
EWA has seen some sharp gains over the past few months. This bullish momentum is certainly a positive attribute.
However, Australia's economy is still grappling with the Covid-19 outbreak, and escalating tensions with China, the country's largest trading partner, could derail recent progress.
Retail sales saw a jump in Victoria, a state that started to ease lockdowns recently. This is a sign the consumer is willing, and eager, to spend.