Portfolio Performance : +3.99%

Actions : Went long USD/CHF as I expect US dollar to retain its strength

Headline News

1. China will ease price controls on oil and gas products "at an appropriate time" China is capping domestic oil, gas and power prices denying energy companies the option to pass the cost to consumers, which has caused price levels to inflate

2. China May Industrial Output higher by 16% from a year earlier

3. Singapore Q1 unemployment rate was 2% vs 1.7% in Q4

4. China Jan - May fixed asset investment rose 25.6% from a year earlier

5. Tokyo condominium sales down 17.7% year on year

6. Philippines recorded $42 million surplus BOP on remittance from overseas Filipinos

7. NZD under pressure as talk of a possible recession coming for the economy

8. Russia Q1 GDP was 8.5% higher YoY

9. Euro May HICP wsa 3.7%, above expectations

10. US Empire State Manufacturing Index for June was -8.93 vs -3.23 in May

Expectation for the FX Crosses Against the USD

1. AUD : Neutral

2. GBP : Neutral

3. CAD : Neutral

4. YEN : Negative, Yen depreciation on US dollar bullish sentiment

5. CHF : Negative, Long USD/CHF at 1.04289

6. EUR : Negative