Australia, Auto ETFs In Focus On May Day

Tuesday opens what investors hope will be the eighth consecutive monthly increase for the Dow, as risky asset classes have continued to tack higher in recent weeks despite some Euro zone jitters and concerns about slowing job growth in the U.S. As May Day rallies were carried out across Europe in a new era of austerity, market remained relatively flat throughout the day there. Australian stocks and the Aussie dollar saw significant activity on Tuesday after the Australian central bank announced a hefty half point rate cut for the struggling Australian economy, which has seen its currency surge against major rivals in recent months. The iShares MSCI Australia Index Fund (EWA) was up slightly on the news, with the exchange rate impact preventing a more substantial gain. The CurrencyShares Australian Dollar Trust (FXA) plummeted by more than 1% on news of the large rate cut. FXA is still well into [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Did Wall Street Forget About Greece? ETF Insider: Bears Are Lurking Around The Corner ETFs For Planes, Trains, And Automobiles 2011: A Year Of ETF Firsts ETF Insider: Volatility Is Still Lurking