Portfolio Performance : +3.99%

Actions: I exited my long on the GBP against the USD in a day, which helped the performance of the portfolio

Headline News

1. Japan Revised Q1 GDP up 1% versus 0.8% initial estimate
2. Japan Q1 non residential investment + 0.2% vs -0.9%
3. Australian consumer sentiment index falls to 15 year low
4. China May PPI higher by 9.2% YoY
5. Australia says that free trade agreement with China will resume soon
6. Two truck drivers were killed in Spain and portugal as they protest against high fuel costs (Now, this is serious. I mean, we are seeing people dying because of high commodity prices... It really brings to question the ethics of investing into commodities. No doubt it is an effective hedge against inflation, but think about the serious consequence for those who do not have the access to the financial instrument. Those of you who are long on crude, You have blood on your hands)
7. China May January - May Crude Imports higher by 12.7% YoY, Soybean Imports higher by 20.4% YoY
8. France CPI higher by 3.4% YoY
9. UK jobless higher by 9000 in May
10. Speculation of M&A for Aussie companies keeping AUD afloat

Expectations for the FX crosses

1. AUD : I am Neutral
2. GBP : Turning Negative, the Claimant number is getting higher
3. CAD : I am Negative
4. YEN : I am Negative
5. CHF : Positive
6. EUR : Neutral

End of the Day : Fed Hawkish talk still lingers in the market, which might lend support for the USD