Announcements and revisions of Australian macroeconomic data and their news content for Australian financial markets |
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| Institution: | 1. College of Marine Sciences, South China Agricultural University, Guangzhou 510642, China;2. Institute of Eco-Environmental Research, Guangxi Academy of Sciences, Nanning 530007, China;3. Southern Marine Science and Engineering Guangdong Laboratory (Zhuhai), Guangzhou 510006, China;4. Guangzhou Dublin International College of Life Sciences and Technology, College of International Education, South China Agricultural University, Guangzhou 510642, China;5. Guangzhou Environmental Monitoring Centre, Guangzhou 510006, China;1. Japanese Red Cross, Hokkaido Block Blood Center, Japan;2. Department of Pediatrics, Asahikawa Medical University, Asahikawa, Japan;3. Department of Pathology, Sapporo Medical University, Sapporo, Japan |
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| Abstract: | This paper investigates the responsiveness of nine Australian financial markets to announcements and revisions of balance on current account and GDP data. We find that current account announcements have a significant effect. Globally, the whole set of revisions are not significant but some individual revisions are statistically significant. When we partition announcements and revisions into good news and bad news we find that with respect to announcements only bad news about the current account has a significant impact. While the global set of revisions are not significant, an increased number of isolated revisions are significant. However, our general conclusion as to the overall lack of significance of the revisions data still holds true. |
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