Portfolio Performance : +6.74%

Actions: Did some intraday trading on the EUR/USD

Headline News

1. Dow Futures plummet in after hours this morning on softer earnings from equities
2. Japan May all industries index higher by 0.4% from April
3. Malaysia's former economic czar and two time finance minister Daim said that lack of strong leadership and clear politics have confused both Malaysians and foreign investors.
4. ADB warns Asia moving too slowly to fight inflation
5. Japan supermarket sales lower by 0.9% from a year earlier
6. Italy July consumer confidence 95.8 vs 99.9 in June
7. South Korea oil product exports demand fall to lowest in nearly two years in June, down 6.5% from the previous year
8. Taiwan unemployment rate 3.95% vs 3.84% in May

My expectation for the USD crosses

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

Bottomline : I expect the market to be slightly bearish on the US dollar, which means that commodities might be supported. I expect to see bearishness in the equity market dying off.