Fund Performance per day (inception date : 03 Oct 06) : 0.5418%

Today

JPY - Today's BoJ Minutes shared the idea that the domestic economy would continue to expand moderately. There is still a record number of JPY short positions but there is still speculation that there is much Yen demand from Russia. The Yen continues to strengthen against the USD but it seems that the demand side for the dollar came into play after 1600h.

GBP - MPC Minutes guarantees a Nov hike and the overall tone was hawkish compared to King's.

Oil - OPEC is starting to show its cracks after being so solid in recent years. Oil prices took a dip on renewed skepticism about OPEC's ability to effectively reduce production.

USD - A sharp drop in US production grabbed the attention of market participants. The market seemed oblivious to the to the capital inflows data, which more than doubled to an all time high. Clearly the latter suggests that there is no crisis of confidence in US assets or in the US-dollar.

Later

1415h - CHF - Swiss Trade Balance

1445h - EUR - French Trade Balance

1600h - EUR - Italian Industrial Orders / Sales

1630h - GBP - Retail Sales / Public Finances / M4 Money Supply