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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