Portfolio Performance : +4.02%

Headline News

1. US NAHB Housing Index falls to 18 vs expectations of 20 (shows that US housing is still in a mess)
2. Japan's Tetiary Index higher by 1.8 percent in April from March
3. Indonesian actual investments in the first five months surged to 80.9 percent to 93.9 trillion rupiah from 51.9 trillion a year ago
4. Australian Central Bank saw current monetary policy as adequate
5. Philippines unemployment rate edged to 8% from 7.4% in April from a year ago
6. Singapore Non Oil Domestic Exports Fall 10.5% year on year as pharmaceutical shipments fall. Pharmaceuticals actually fell 48.5% year on year! (This is sure to hit the press tomorrow)
7. Hong Kong March-May unemployment rate at 3.3 percent unchanged from Feb- April
8. UK annual May CPI rises to 3.3% from 3% in April
9. Euro Zone April Trade Surplus 2.3 billion Euros vs 1.5B deficit in March
10. Germany June Economic expectations -52.4 versus -41.4 in April
11. US wholesale inflation up 1.4% in May while core inflation was higher by 0.2%
12. US builders slowed construction on new homes in May in an effort to reduce inventory. Housing starts fell 3.3% to 975 000 unit rate, the lowest since 1991


My Expectations for the USD Crosses

1. AUD : Neutral
2. GBP : Neutral
3. CAD : Positive
4. JPY : Neutral
5. CHF : Negative
6. EUR : Neutral

End of the Day: I am still keeping my Long USD/CHF trade, I think we might face some volatility, so we will see how things move along