Fund Performance per day (inception date : 4 Dec 06) : 1.48817%

Yesterday

OIL (Bullish) - Crude is finding support at the 60 USD/barrel level and there is limited downside. Middle Eastern countries are confident that the oil price surge will continue and they will continue to spend, investing in oil-consuming countries, offseting global trade imbalances.

USD (Neutral) - The broadest measure of the nation's trade deficit increased in third quarter, with the lack in payments on foreign debt and investments increasing to a potentially worrisome high. The U.S., for the fourth consecutive quarter, also paid out more to foreign creditors and investors than it received from its own investments abroad. The investment deficit rose to a record $3.78 billion in the third quarter, up $1.63 billion from the second quarter, the Commerce Department said.

NOK (Bullish) - Statoil will buy the oil and natural gas operations of Norsk Hydro in an estimated $28 billion deal that creates the largest offshore operator in the world and a new national energy champion for Norway. The country now holds about half of Europe's remaining oil and natural gas reserves. It is the world's third-largest oil exporter after Saudi Arabia and Russia. The expanded Statoil's estimated 6.3 billion barrels in oil and natural gas reserves would be just a small fraction of Saudi Arabia's national oil company, Saudi Aramco, or Russia's gas company, Gazprom, but the company's exports are strategically important to Western Europe.

Today

USD (slight Bearish) - The dollar fell against other major currencies Tuesday, driven by technical rather than fundamental factors in a day of thinner trading before the holidays. Despite a stronger than expected PPI data, the greeback lost against the majors.
The Labor Department reported Tuesday that its Producer Price Index, a measure of wholesale inflation, jumped 2 percent in November, the biggest advance since a similar increase in November 1974. The gain was four times larger than the 0.5 percent increase economists had forecast.

EUR (Bullish) - The closely watched Ifo index of business confidence in Germany showed an unexpected improvement for December, underlining the strength of the upturn in Europe's biggest economy.

Later

1615h - CHF : Producer and Import Prices

1730h - GBP : BoE Minutes / Business Investment / M4 Money Supply / Banks Lending

2000h - USD : Mortgage Applications

2130h - CAD : Wholesale Sales