Fund Performance per day (inception date, 20 Oct 06) : -2.353%

Yesterday

CAD - Bearish in the long term, because of falling oil prices. However, Investment houses have indicated a possibility of a near-term bounce. Indicators have pointed that the CAD may be overvalued. This week, watch for important CAD data.

SEK - Medium Term Extreme Bullish Sentiment

AUD - Weaker Commodities pusher the AUD down but AUD is expected to stay in range.

USD - Yesterday, the indicator of future economic activity inched higher in October, which indicate that recent weakness in the housing market hasn't been severe enough to offset lower gas prices and a rising stock market. The increase came in short of the market's consensus forecast for a rise of 0.3 percent. The US economy is growing, but at a slow pace. USD might be neutral in the mean time, while a rate cut is possible in early 2007

Over the weekend

G20 - The G20 meeting in Australia did not have any significant impact on FX. Aussie Treasurer Peter Costello says G20 has agreed on the need for increased Forex flexibility, and it is a question of timing. (I am quite sure the comment was meant for the Asian currencies) Japanese Finmin Koji Omi says it is appropriate for FX moves to reflect economic fundamentals.

Later

1200h - JPY : BoJ releases minutes

1415h - CHF : Swiss Trade Balance

1445h - EUR : French GDP

1515h - CHF : Producer and Import Prices

1800h - GBP : UK Industrial Trends Survey

2030h - CAD : Retail Sales / Leading Indictators