Portfolio Performance : +5.73%

Actions performed : I did some intraday trades, trading the GBP/USD pair

Headline News

1. The FOMC statement was very discouraging for the USD bulls
2. UK Prime Minister Gordon Brown says that law reform needed to get nuclear stations to be built quickly to reduce the country's dependance on oil and to combat climate change
3. Foreign investors were net buyers of Japanese stocks for the sixth straight week
4. The Taiwan Ministry of Economic Affairs plans to propose a rise in the cap of Taiwanese corporates in China by the end of July
5. Singapore May factory output down by 12.8% versus average forecast growth of 1.6%
6. German import prices higher by 2.4% year on year in April
7. French June consumer confidence -45 versus -41 in May
8. Foreign investors net sellers of 4.02 billion Taiwan shares
9. Germany might introduce a EUR 5 billion tax break for commuters to shield consumers from rising petrol prices.
10. OPEC believes that it will need to produce far less oil over the next 12 years than the US has suggested, saying that new supply from regions and biofuels would reduce the need for its oil
11. Dutch consumer confidence falls to -19 from -17 in May
12. Euro Zone May M3 higher by 10.5%, unchanged from April
13. Euro May Loans higher by 10.4% versus 10.6 percent in April
14. Hong Kong Exports higher by 10.3% year on year versus 14.5% in April
15. Taiwan Central Bank will do it can to fight inflation
16. OPEC President sees $150 - $170 per barrel oil in summer
17. US jobless claims unchanged from previous week
18. US Q1 GDP Final came in at 1% as expected
19. US Conference Board Help Wanted Ad index 17 versus 18 in April
20. US May existing homes sales higher by 2% Month on Month

My expectation for the USD cross

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

Bottomline : I expect market volatility to continue, and that the USD might succumb to further weakness