Portfolio Performance : +5.12%

Actions Performed : I closed my USD/CHF trade, which helped the performance of the portfolio

Headline News

1. London's Business leaders have become pessimistic about the capital's competitiveness and their firm's future prospects fue to poorly handled reforms by the Treasury and the economic downturn
2. China agrees to ease rules for insurance companies and foreign investors in China's securities market as part of this week's meeting of the US-China Strategic Economic Dialogue
3. Japan's All industry index higher by 0.8 percent from March
4. Gains in the service sector offset weak industrial output
5. Markets anticipating an interest rate raise at upcoming Taiwan Central Bank meeting
6. The People's Bank of China sold three year bank bills in open market
7. World Bank says that China's money supply is under control and inflation is stable
8. Singapore releases 13 new land sites for sale in the second half of this year
9. Swiss May Trade Balance widens to 1.87 Billion Francs
10. Thailand's PM under attack from all sides
11. CHF weakens as SNB sounds relaxed
12. Dutch unemployment at 4.1 percent vs 4.7% from a year ago
13. British May retail Sales came in at 8.1% year on year, higher than expected
14. Maalysia said that it would go ahead with two major infrastructure projects despite its plan to review some projects under the state development blueprint
15. Shell shuts down 200 000 barrels of production at Nigerian oil field
16. US jobless claims falls 5000 to 381 000, continuing claims fall 76 000
17. China will raise petrol and diesel prices from Friday, the average electricity price will rise 2.5% from July 1
18. US Philly Fed Employment Index -6.9 versus -1 in May
19. S&P said that Vietname may experience sharp correction in economic growth

My expectations for the FX USD crosses

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

Bottomline : I think we will continue to see volatility in the market