In Sydney for Sinch legal conference. Adrian Dayton talking about Twitter.

Lucky Country’s export prices up 7.1% with import prices down 5.2% (y/e 30/0610). Thank you crude materials. ABS http://tinyurl.com/2bo5q2c

IMF: Risk up sharply: Euro credit event, overly severe cutbacks, uncertain bank reform & new weakness in US property http://alturl.com/j43z7

Australia’s balance of trade leaped to $1.3 billion surplus in May. One export commodity, gold, up 66%. ABS http://alturl.com/nw7zi

DEBKAfile: Iran has declared a state of war on its northwestern border. http://alturl.com/iseu

UN Report: USD should be replaced as reserve currency (WSJ.com) http://on.wsj.com/a7ULsN