Fund Performance per day (inception date : 03 Oct 06) : -0.4542%

Today's events

USD - The dollar ended on friday firmer after strong retail figures were released on friday. It really shows that US consumers are spending the savings they have from the pump stations. This morning the dollar was lower against most currencies after some profit taking from the hawkish sentiment about the dollar on friday

EUR - Stronger than expected Italian HCIP and German Retail / industrial figures today should mean that the ECB might increase rates in the next quarter. Trichet is due to speak at 2000h

JPY - News that Central Bank of Russia is diversifying into yen, quickly sent both USD/JPY and EUR/JPY lower in early European trade tonight. While traders reported that initial order flow in the market was small, the announcement by the first deputy chairman of the central bank noted that Russia intends to ultimately raise its proportion of yen holdings to several percent of its total reserves.

OIL - Oil cartel OPEC has cuts its 2006 world oil demand growth forecast by 100,000 bpd amid sweeping declines in oil prices since July, saying a slowing global economy is weighing on demand. The cartel is due to meet in QATAR and the emergency meeting has prompted oil prices to soar.

Later

2000h - EUR - Trichet speaks

2030h - USD - Empire Manufacturing

0000h - USD - Bernanke speaks to Banker's Annual Convention

0750h - JPY - Tertiary Industry Index

1200h - JPY - Condo Sales

1330h - JPY - Nationwide department store sales

1630h - GBP - Core CPI / Retail Price Index