You should care about pit traders for the same reason you should care about pivot points...

I think they should just raise it and get it all over with! : Here's some different opinions: url

Here's some of what the central bank had to say:

simonjmo - How high will the OCR have to go before the housing demand starts to slow there? Does the RBNZ seem to be moving too slow to control the inflation?

I agree, as I'm also short USD/JPY.

From the article: NZ CPI q/q looks like a main event after this week's Sydney open. I've been short NZD/USD since June 20 on intervention expectations.

Well said iya. I'm looking for a loud pop.

Here's a report: Tue, Jul 3 2007, 02:00 GMT USD continues to fall over mortgage concerns

Wednesday's NY session will be really thin for price moving.

Here's what they say they are doing: url

I got a short @ .7706

UGM's home page still looks like business as usual. Perhaps trying to offer fixed spreads to the news traders did them in. From their front page: "Starting Sunday May 20, 2007 United Global Markets is changing our pricing structure from fixed ...

Underlying value — What will be in store for the NZ economy if the RBNZ fails to devalue the kiwi? Will the reduced exports lead to lower inflation? Or will things burn up worse?

It's now too late for me to view the 5 second data but I was trying to indicate there was also a 30 pip price movement inside the spread due to market volatility during the minute I displayed.

The Min/Max price chart you are displaying is not the Min/Max spread. Here's the spread detail: image It looks to me like the price also moved fast, dragging the spread with it. Sorry 'bout your trade.

I see... I guess that makes me a stopless mechanical trader.

If you're willing to hold a position through a major news release aren't you already sure of the direction? If not, perhaps reacting to the news once the spreads re-narrowed would be a better strategy. The stop is adding risk on top of the event ...

Are you implying your trades have tailored spreads depending on the position? You should try monitoring the bid and ask price detail using the platform's price overlay studies instead of the min/max.

Nope. Nice rate though: NZD/JPY - Long 7.000% Short -8.050%

Mine matches right down to the 'pipette'.