The Opening Bell: Where currencies start on Thursday, July 23, 2015

By Dan Bell

The NZDUSD opens this morning at .6585.

All eyes this morning are on the RBNZ rate announcement with a 25 basis point cut fully priced in.

We believe the key driver will come in the accompanying statement and whether or not the RBNZ will continue with their dovish monetary policy stance.

Last night the UK’s  Monetary Policy Committee voted 9-0 to retain its key rate at a record low 0.50% and asset purchase programme at GBP 375 billion.

The committee pointed to the continued uncertainty surrounding Greece as a key factor in holding the rate at 0.50%.

Gold prices are back below $1100 currently down $8.75 at $1092.

WTI Crude Oil falls below $50 a barrel currently down 3.32% at $49.17.

World equity markets continue to slide with both the European and US markets broadly lower: Dow  -0.36%, S&P 500 -0.23%, FTSE -1.50%, DAX -0.72%, CAC -0.47%, Nikkei -1.19%, Shanghai +0.21%.

NZDUSD           0.6585       -0.8%

NZDEUR           0.6036       -0.4%

NZDGBP           0.4223      -0.9%

NZDJPY             81.70         0.5%

NZDAUD           0.8932       0.0%

NZDCAD           0.8580       0.0%


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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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var chart_subtitles_arr= ["Daily benchmark rate","Daily benchmark rate","Daily benchmark rate","Daily benchmark rate","Daily benchmark rate","Daily benchmark rate","Daily benchmark rate"];
var tab_titles_arr= ["US$","AU$","TWI","u00a5en","u00a5uan","u20acuro","GBP"];
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else if (arr.length < 536)
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var b = 537 – arr.length;
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else if(arr.length == 536)
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var b=2;
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// to generate the format for date representation in x axis

var timestamweek = 604800000;
var timestamday = 86400000;
var timestammonth30 = 2592000000;
var timestammonth31 = 2678400000;
var timestamyear = 31536000000;
var timestamquarterly = 7776000000;

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do {
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var mm = fomat.substring(k1+1,k2);
var yy = "20"+fomat.substring(k2+1,k3+1);
var yy1=fomat.substring(k2+1,k3+1);

// conversion of months into numerical form

//+++++++++++++++++++++++++++++++++++
if (mm == "Jan")
{
mm= "01";
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else if (mm == "Feb")
{
mm= "02";
}

else if (mm == "Mar")
{
mm= "03";
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else if (mm == "Apr")
{
mm= "04";
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else if (mm == "May")
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mm= "05";
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else if (mm == "Jun")
{
mm= "06";
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else if (mm == "Jul")
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mm= "07";
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{
mm= "08";
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{
mm= "09";
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{
mm= "10";
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else if (mm == "Nov")
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mm= "11";
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else if (mm == "Dec")
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mm= "12";
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// +++++++++++++++++++++++++++++++++++++++++++++++++++++++

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var timestam2 = Date.parse(date2);
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var k=0;

do {
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var k1 =k;

do {
k++;
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var k2=k;

do {
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var k3=k;

var dd= fomat.substring(0,k1);
var mm = fomat.substring(k1+1,k2);
var current_year=""+new Date().getFullYear();
var c_year=Number(current_year.substring(2,4));
var c_data=Number(''+fomat.substring(k2+1,k3+1));
if(c_data c_year)
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var yy = “19”+fomat.substring(k2+1,k3+1);
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var yy = “20”+fomat.substring(k2+1,k3+1);
}
// conversion of months into numerical form

//+++++++++++++++++++++++++++++++++++
if (mm == “Jan”)
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mm= “01”;
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mm= “02”;
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mm= “03”;
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mm= “04”;
}

else if (mm == “May”)
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mm= “05”;
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else if (mm == “Jun”)
{
mm= “06”;
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else if (mm == “Jul”)
{
mm= “07”;
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else if (mm == “Aug”)
{
mm= “08”;
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else if (mm == “Sep”)
{
mm= “09”;
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else if (mm == “Oct”)
{
mm= “10”;
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else if (mm == “Nov”)
{
mm= “11”;
}

else if (mm == “Dec”)
{
mm= “12”;
}
// +++++++++++++++++++++++++++++++++++++++++++++++++++++++

var date = mm+”/”+dd+”/”+yy;

var timestam_1 = Date.parse(date);
var timestam= timestam_1+86400000; //86400000 added to get correct timezone output from Date.parse
var time4 = new Date(timestam);
var Weeko = time4.getDay();
var dd2 = time4.getDate();
var mm2 = time4.getMonth();
var flag_y=arr[i][1];
var ahref_title=”Click here for full story”;
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var url=arr[i][2];
var flag_date='{“x”:’+timestam+’, “title”:”  “,”text”:”Click here for Story!”}’;

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var yy2 = time4.getFullYear();
var yy3 = yy2+””;
var yy4= yy3.substring(2,4);
//++++++++++++++++++++++++this for days conversion++++++++++++++++++++++++++++
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Weeko = “Tue”;
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Weeko = “Wed”;
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Weeko = “Thu”;
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Weeko = “Fri”;
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else if (Weeko==6)
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Weeko = “Sat”;
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else if (Weeko==0)
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Weeko = “Sun”;
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//+++++++++++++++++++++++this is for month conversion+++++

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mm2 = “Jan”;
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mm2 = “Feb”;
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{
mm2 = “Mar”;
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mm2 = “Apr”;
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else if (mm2==4)
{
mm2 = “May”;
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else if (mm2==5)
{
mm2 = “Jun”;
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else if (mm2==6)
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mm2 = “Jul”;
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else if (mm2==7)
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mm2 = “Aug”;
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mm2 = “Sep”;
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mm2 = “Oct”;
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mm2 = “Nov”;
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mm2 = “Dec”;
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fomat2=mm2+”-“+yy4;
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fomat2=mm2+”-“+yy4;
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fomat2=dd2+”-“+mm2+”-“+yy4;
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var xyvalu=”Latest value at “+xvalu+” is “+yvalu;
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fomat = replic;

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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);
var yy = "20"+fomat.substring(k2+1,k3+1);

// conversion of months into numerical form

//+++++++++++++++++++++++++++++++++++
if (mm == "Jan")
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mm= "01";
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else if (mm == "Feb")
{
mm= "02";
}

else if (mm == "Mar")
{
mm= "03";
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else if (mm == "Apr")
{
mm= "04";
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else if (mm == "May")
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mm= "05";
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else if (mm == "Jun")
{
mm= "06";
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else if (mm == "Jul")
{
mm= "07";
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else if (mm == "Aug")
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mm= "08";
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else if (mm == "Sep")
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mm= "09";
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else if (mm == "Oct")
{
mm= "10";
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else if (mm == "Nov")
{
mm= "11";
}

else if (mm == "Dec")
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mm= "12";
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var date = mm+"/"+dd+"/"+yy;
//here flagAr may be
var timestam = Date.parse(date);
var time4 = new Date(timestam);
var Weeko = time4.getDay();
var dd2 = time4.getDate();
var mm2 = time4.getMonth();

var yy2 = time4.getFullYear();
var yy3 = yy2+"";
var yy4= yy3.substring(2,4);
//++++++++++++++++++++++++this for days conversion++++++++++++++++++++++++++++
if (Weeko==1)
{
Weeko = "Mon";
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else if (Weeko==2)
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Weeko = "Tue";
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else if (Weeko==3)
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Weeko = "Wed";
}

else if (Weeko==4)
{
Weeko = "Thu";
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else if (Weeko==5)
{
Weeko = "Fri";
}

else if (Weeko==6)
{
Weeko = "Sat";
}

else if (Weeko==0)
{
Weeko = "Sun";
}

//+++++++++++++++++++++++this is for month conversion+++++

if (mm2==0)
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mm2 = "Jan";
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else if (mm2==1)
{
mm2 = "Feb";
}

else if (mm2==2)
{
mm2 = "Mar";
}

else if (mm2==3)
{
mm2 = "Apr";
}

else if (mm2==4)
{
mm2 = "May";
}

else if (mm2==5)
{
mm2 = "Jun";
}

else if (mm2==6)
{
mm2 = "Jul";
}

else if (mm2==7)
{
mm2 = "Aug";
}

else if (mm2==8)
{
mm2 = "Sep";
}

else if (mm2==9)
{
mm2 = "Oct";
}

else if (mm2==10)
{
mm2 = "Nov";
}

else if (mm2==11)
{
mm2 = "Dec";
}
//++++++++++++++++++++++++++++++++++++++++

//weekly
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fomat2=dd2+"-"+mm2+"-"+yy4;
}

// Daily
else if ( timestamvar = timestamyear)
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fomat2=mm2+”-“+yy4;
}

//monthly
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{
fomat2=mm2+”-“+yy4;
}

arr[i][0]= fomat2;
var decpad;

decpad = parseFloat(arr[i][1]);
//arr[i][1] = roundVal(decpad);
arr[i][1] = decpad;
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var xvalu=dd2+”-“+mm2+”-“+yy4;
var yvalu= String(arr[i][1]);
var xyvalu=”Latest value at “+xvalu+” is “+yvalu;
updt=”Updated on “+xvalu;
}
}

}
}

//other required functions

//chart configuration starts here

function getXMLHttpRequest(file) {

//var arrSignatures = [“MSXML2.XMLHTTP.5.0”, “MSXML2.XMLHTTP.4.0″,
//”MSXML2.XMLHTTP.3.0”, “MSXML2.XMLHTTP”,
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//for (var i=0; i < arrSignatures.length; i++) {

try
{
var xmlhttp = new window.XMLHttpRequest();
xmlhttp.open("POST",file,false);
return xmlhttp;
}
catch(e)
{
error=e.message;
}

//}
throw new Error("MSXML is not installed on your system.");
}

function readCSV(locfile) {
// load a whole csv file, and then split it line by line
var req = new getXMLHttpRequest(locfile);
//req.open("POST",locfile,false);
req.send("");
return req.responseText.split(/n/g);
}

function parseLineCSV(lineCSV) {
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lineCSV = lineCSV.replace(/,/g," ,");

lineCSV = lineCSV.split(/,/g);

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// remove all trailing space in each field
for (var i=0;i<lineCSV.length;i++) {
lineCSV[i] = lineCSV[i].replace(/s*$/g,"");
}

lineCSV[lineCSV.length-1]=lineCSV[lineCSV.length-1].replace(/^s*|s*$/g,"");
var fstart = -1;

for (var i=0;i=0) {
for (var j=fstart+1;j<=i;j++) {
lineCSV[fstart]=lineCSV[fstart]+","+lineCSV[j];
lineCSV[j]="-DELETED-";

}
fstart=-1;
}
}
fstart = (lineCSV[i].match(/^"/)) ? i : fstart;
}

var j=0;

for (var i=0;i<lineCSV.length;i++) {
if (lineCSV[i]!="-DELETED-") {
CSV[j] = lineCSV[i];
j++;
}

}

return CSV;
}

function roundVal(val_num){
var dec = 2;
var result = Math.round(val_num*Math.pow(10,dec))/Math.pow(10,dec);
return result;
}

function setdecimalpoints(deca)
{
var deca1= deca;
var deca2= parseInt(deca);
if((deca1-deca2)!=0)
{
return 2;
}
else
{
return 0;
}
}
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