Portfolio Performance : +1.93%

Headline News

1. Iran top nuclear negotiator and EU foreign policy chief will discuss a "timetable" for future negatiations to break the deadlock in the atomic crisis
2. RBA Minutes shows central bank's stance on inflation
3. RBA says that monetary policy cooling demand
4. Bank of Japan sees higher inflation, slower growth
5. Singapore May retail sales higher by 4.8% year on year versus forecast of 6.5%
6. BOJ leaves rates unchanged
7. French May current account surplus 2.5 billion versus 3 billion Euros
8. Philippines overseas workers remittances higher by 15.6% in May
9. Thai PM offers tax cuts, handouts to spur economy
10. Dutch May retail sales higher by 7.8% year on year
11. UK June CPI higher by 3.8% from a year ago vs 3.6% consensus
12. German ZEW Economic expectations index -63.9 vs -52.4 in June
13. US June Core inflation matches May, fastest annual gain since 1991
14. US Fed Empire State Manufacturing -4.92 vs -8.68 in June, better than expected
15. US inventory to sales ratio at record low of 1.24

My expectation for the USD crosses

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

Bottomline : The market has got carried away with equity shorts, I still think that the market will continue not to like the US dollar