A nice beat in the Australian Consumer Sentiment showing budget has been well received in April 19 – Full Report

This data is going to be welcomed by the Aussie bulls today and was indeed a nice little beat and an extra arrow in the bull's armoury, a much needed positive addition considering the latest concerns drummed up by the IMF's  forecast for 2019 global growth which was cut from 3.5% to 3.3% - the lowest growth rate since 2009.

The Australian Consumer Sentiment survey was conducted over the period April 1 to 5 and captures consumer reactions to the Federal Budget and the detail suggests the Budget was well-received.

• Australian Westpac Consumer Confidence SA (m/m) apr: 1.9% (prev -4.8%)
• Westpac Consumer Confidence index apr: 100.7 (prev 98.8)

"The Sentiment over the course of the week showed a clear boost, with sentiment amongst those surveyed post-Budget 7.7% higher than sentiment amongst those surveyed pre-budget – the most positive turnaround since we began tracking pre and post Budget responses in 2011,"  - Westpac

• AUD/USD popped to a fresh high of 0.7131 for Asia - European high was 0.7150.

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