Spreadex Market Update
Dollar makes significant gains
The Reserve Bank of Australia has cut its benchmark interest rate to 2.75 percent, a record low, helping Asian stocks rise for a second consecutive day. The MSCI Asia Pacific Index climbed 8.5 percent this year through yesterday amid optimism the Bank of Japan will deploy more measures to beat deflation and that policy makers in the U.S. and Europe remain on standby to buoy growth.
Strong Asian demand has seen Danish brewer Carlsberg beat forecasts. First-quarter operating profit and revenue beat estimates with beer sales in Asia totalling nearly 20 percent of group revenue. The timing of the increase of demand has been perfect with a decline in mature European markets and in its former growth driver, Russia.
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