ncm where 2 from here flying or crying!!, page-9

the higher the AUD goes,,,,worse for earnings, and in theory either they make it up with extra production to stabilize the SP or it should fall..........

My pet hate at the moment is Caltex,,,,no options availiable,,anywat,,here is a company with payment received in USD and a margin set in USD in Singapore,,the margins are dropping and the AUD has risen past its hedging max of 91cents,,,,eventually there should be a profit warning...

I dont know what the final break up of the currency cashflows NCM isreceiving but having now bought LGL, 75Pc of its revenues are from overseas,,higher aud lower earnings or more FX risk......or gold has to just keep going with gold price,,which in AUD it hasnt..

time will tell, back to the move in usd,,,about to test 140 v euro