Michelle Pfeiffer - Makin' Whoopee

This is Michelle showing the world why she deserves all the glory!!

She is older now, but still gets me going!!

The Budget......

....was boring.

But at least the markets have begun to reprice the lower interst rates that were being foolishly predicted.

When will people realise that lower growth does not equal lower interest rates?

Lower inflation equals lower interest rates, and we have all kinds of inflationary pressures looming due to higher oil prices.

Wait until Bollard confirms this in June. Then watch interest rates move back up and the NZD/USD retest 0.8000.

No Minister is such an excellent blog

Here's why and here and here

Great reading!!

Position update

Here are the trades I am active in:

NZD/JPY
Square

NZD/USD
Square

EUR/USD
Long USD short 3m Euro at average of 1.5160

Current rate 1.5480: loss

Comment:
Watching and waiting for a turn in the EUR/USD back below 1.4500.

AUD/USD
Long AUD1m short USD at 0.8720

Current rate 0.9430: Gain

Comment:
Will probably take profit on next test of 0.9500, and will cut and bank the money if below 0.9200 is seen.

Total Gains to date:
NZD266,412.00

Next trade:
Looking to sell NZD1m buy USD on a move into the 0.7900 - 0.8000 area.