Portfolio Performance : +14.99%

Headline News

The USD barometer remains at -0.5

Headline News

1. The World Bank President Robert Zoellick called for a revived talks of last month's proposal for a safeguard to help poor farmers in poor countries withstand a flood of imports
2. US NAHB Housing Index unchanged at 16 in August, unchanged from July
3. The sharp fall in UK house prices recorded in the recent months lifted the number of properties going for rent, as it has become more profitable
4. RBA Minutes shows that less restrictive monetary policy may be needed in the months ahead
5. Bank of Japan downgrades the monthly economic outlook, Bank of Japan leaves target rate unchanged as expected
6. The Philippines recorded a balance of payment surplus of $142 million in July, against a deficit of $248 million in June
7. German PPI higher by 8.9% year on year
8. The ZEW research institute said its economic expectation index for Germany improved to -55.5 in August, from -63.9 points in July
9. US inflation at the wholesale level rose at the fastest annual pace in three decades, core inflation posted the largest annual gain in almost two decades

Bottomline : Things are not looking good for the equity market as earnings growth slows. The US dollar is starting to weaken. The EUR/USD pair is looking interesting, I might go long on it depending on the market performance