The Opening Bell: Where currencies start on Thursday, August 27, 2015

By Dan Bell

The NZDUSD opens at 0.6425 (mid-rate) this morning.

The NZD is once again one of the worst performing currencies over the past 24hrs, with better than expected U.S data releases helping the USD claw back some of its recent losses.

With economists expecting the U.S. durable goods orders to fall by 0.4% the report has surprised the market by climbing 2% in July with June also upwardly revised to 4.1%.

The increase was led by Orders for transportation equipment which were up 4.7% in July after spiking by 10.7% in June.

The U.S. equity markets are making strong gains with the Dow currently up nearly 4% after comments from Fed president William Dudley.

Dudley was quoted as saying “From my perspective, at this moment, the decision to begin the normalization process at the September FOMC meeting seems less compelling to me than it was a few weeks ago,” fuelling speculation that the Fed may delay hiking interest rates until at least December.

Global equity markets are mixed with Euro-zone markets continuing their fall while the U.S. markets are sharply higher- Dow +3.85%, S&P 500 +2.82%, FTSE -1.68%, DAX -1.29%, CAC -2.81%, Nikkei +3.20%, Shanghai -1.3%.

Gold prices continue to fall currently down $16 to $1124 an ounce, WTI Crude Oil is down 1.4% overnight trading at $38.75 a barrel.

NZDUSD           0.6425      -1.2%

NZDEUR           0.5662       -0.5%

NZDGBP           0.4153        0.2%

NZDJPY             76.75        -1.5%

NZDAUD           0.9050       -0.3%

NZDCAD           0.8570       -1.2%


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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »

Daily exchange rates

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// to generate the format for date representation in x axis

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var timestamday = 86400000;
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var timestammonth31 = 2678400000;
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do {
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var k3=k;

var dd= fomat.substring(0,k1);
var mm = fomat.substring(k1+1,k2);
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// conversion of months into numerical form

//+++++++++++++++++++++++++++++++++++
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var mm2 = time4.getMonth();
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var time4 = new Date(timestam);
var Weeko = time4.getDay();
var dd2 = time4.getDate();
var mm2 = time4.getMonth();

var yy2 = time4.getFullYear();
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//++++++++++++++++++++++++this for days conversion++++++++++++++++++++++++++++
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mm2 = "Mar";
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mm2 = "Apr";
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else if (mm2==4)
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mm2 = "May";
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mm2 = "Jun";
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mm2 = "Oct";
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mm2 = "Nov";
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mm2 = "Dec";
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//req.open("POST",locfile,false);
req.send("");
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lineCSV[lineCSV.length-1]=lineCSV[lineCSV.length-1].replace(/^s*|s*$/g,"");
var fstart = -1;

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lineCSV[j]="-DELETED-";

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fstart=-1;
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}

var j=0;

for (var i=0;i<lineCSV.length;i++) {
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CSV[j] = lineCSV[i];
j++;
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}

return CSV;
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function roundVal(val_num){
var dec = 2;
var result = Math.round(val_num*Math.pow(10,dec))/Math.pow(10,dec);
return result;
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function setdecimalpoints(deca)
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var deca1= deca;
var deca2= parseInt(deca);
if((deca1-deca2)!=0)
{
return 2;
}
else
{
return 0;
}
}
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