Portfolio Performance : 5.14%

Headline News

1. Saudi Arabia's Al Naimi says world oil supplies are enough for decades
2. PBOC Governor Zhou has signalled tougher action in the fight against inflation
3. UK property website Rightmove said that the asking price of a UK home was nearly 3000 pounds lower in June compared to May
4. Japan Large Firms Q2 business conditions index -15.2 versus -9.3 in Q1
5. Japan companies FY CAPEX seen down 0.9% versus down 9.4% in March
6. The Australian Bureau of Statistics said that motor sales were 2.6% higher from a year ago but fell 1.6% from May
7. Singapore CPI higher by 7.5% year on year, consensus looking at 7.9% year on year
8. French June provisional Services PMI 49.2 versus 50.5 in May
9. German June provisional Services PMI 52.3, consensus looking for 53.2
10. Taiwan May unemployment 3.84% versus 3.81% in April
11. German IFO June Business climate index 101.3 versus 103.5 in May
12. Euro Zone June Composite PMI 49.5 versus 51.1 in May

My expectation for the USD crosses

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

Bottomline : The market is preparing for the US rate decision, where most participants expect a hold at 200 basis points. I think we might see some volatility in the crosses after the announcement on Wednesday