Portfolio Performance : +6.75%

Headline News

1. Fed Meeting Minutes showed that two Fed bankers favoured a rate hike in June, namely the Fed Reserve Bank of Kansas City and Dallas.
2. The minutes concluded that downside risks to the economy were outweighed by upside risks to inflation.
3. ABC Consumer Confidence Comfort Index -41 this week from -41 the previous week
4. ADB Economist Lee Jong Wha said that Singapore's appraoch to allow the SGD to appreciate is in the right direction, but should also boost fiscal spending
5. Australia Q2 Headline CPI higher by 4.5% year on year vs 4.3% consensus
6. Indonesia central bank said that inflation will remain the main concern for Indonesia over hte next 12-18 months, but a gradual and non-aggressive hike in interest rates ahead will be enought to contain inflation
7. Singapore June CPI higher by 7.5% year on year, below estimate of 8% year on year
8. French June consumption lower by 0.4% from May
9. Iran Vows no retreat in Nuclear Row
10. Spanish June Producer Price higher by 9% year on year
11. Taiwan June Exports higher by 9.27% year on year, vs 14.46% higher by May
12. Romania's consolidated budget deficit may reach 3% of GDP next year if the pension budget runs out of cash to fuel planned state pension hikes
13. UK June Mortgage Approvals slump to new all time low of 21,118
14. BOE kept interest rates unchanged
15. Euro Zone May Industrial Orders lower by 4.4% year on year
16. Malaysia CPI came in at 7.7% year on year vs expecatations of 6.8%
17. UK July Manufacturing business optimism -40 lowest since Oct 2001
18. Germany's Merkel says economic growth slowing, does not see a recession
19. Crude Inventories lower by 1.6M to 295.3M

My Expectation for the USD Crosses

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

Bottomline : Quiet trading day, I will not take any positions. Crude looks like it is cracking a little, as well as the other commodities, which might support equities.