The Opening Bell: Where currencies start on Tuesday, April 11, 2017

By Dan Bell

The NZDUSD opens at 0.6961 (mid-rate) this morning.

The USD has started off the week on the back-foot losing ground against all its major trading rivals. The NZDUSD traded to a four-week-low of 0.6920 late yesterday before recovering as the European markets opened up.

With little in the way of economic data releases investors are focused on geopolitical concerns following last week’s US airstrikes, and the deployment of an aircraft carrier strike group to waters off the Korean peninsula.

The latest polls in the French presidential election suggest the election could be a four-way contest with both far-left candidate Jean-Luc Melenchon and Republican Francois Fillon closing the gap on the two front runners independent Emmanuel Macron and National Front leader Marine Le Pen. The Weekends polls ahs  Macron and Le Pen tied for the lead, each with 24% of the vote followed by Melenchon with 18% then Fillon polling at 17%. The first round of the elections after which the top two candidates move forward to the second round on the 7th of May will be held on 23rd of April.

The highlight of our trading day is likely to be Federal Reserve Chair Janet Yellen’s address at the University of Michigan later this morning.

Global equity markets remain mixed – Dow +0.25%, S&P +0.15%, FTSE -0.01%, DAX -0.20%, CAC -0.54%, Nikkei +0.71%, Shanghai -0.52%.

Gold prices are holding steady at $1,254 an ounce, WTI Crude Oil continues to push higher up 1.6% in the last 24 hours trading at $53.05 a barrel.

Current indicative rates:

NZDUSD      0.6961       0.4%
NZDEUR      0.6567       0.2%
NZDGBP      0.5604       0.1%
NZDJPY        77.22        0.3%
NZDAUD      0.9281       0.3%
NZDCAD      0.9281      -0.1%
GBPNZD      1.7844      -0.1%

Upcoming Data releases (NZST):

  • 08:10 Fed Chair Yellen Speaks

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Email:  

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=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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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")
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mm= "01";
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else if (mm == "Feb")
{
mm= "02";
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else if (mm == "Mar")
{
mm= "03";
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mm= "04";
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{
mm= "06";
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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")
{
mm= "11";
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else if (mm == "Dec")
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// +++++++++++++++++++++++++++++++++++++++++++++++++++++++

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var timestam2 = Date.parse(date2);
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}
var timestamvar = (timestam2- timestam1);
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var tempAr1 = new Array();
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replic=String(arr[i][0]);
var k=0;

do {
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var k1 =k;

do {
k++;
} while(fomat.charAt(k)!="-")
var k2=k;

do {
k++;
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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)
{
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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else if (mm == “Feb”)
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mm= “02”;
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mm= “03”;
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mm= “04”;
}

else if (mm == “May”)
{
mm= “05”;
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else if (mm == “Jun”)
{
mm= “06”;
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else if (mm == “Jul”)
{
mm= “07”;
}

else if (mm == “Aug”)
{
mm= “08”;
}

else if (mm == “Sep”)
{
mm= “09”;
}

else if (mm == “Oct”)
{
mm= “10”;
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else if (mm == “Nov”)
{
mm= “11”;
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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 = “Thu”;
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Weeko = “Fri”;
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Weeko = “Sat”;
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Weeko = “Sun”;
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//+++++++++++++++++++++++this is for month conversion+++++

if (mm2==0)
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mm2 = “Jan”;
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mm2 = “Feb”;
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else if (mm2==2)
{
mm2 = “Mar”;
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else if (mm2==3)
{
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)
{
mm2 = “Jul”;
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else if (mm2==7)
{
mm2 = “Aug”;
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else if (mm2==8)
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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=dd2+”-“+mm2+”-“+yy4;
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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")
{
mm= "01";
}
else if (mm == "Feb")
{
mm= "02";
}

else if (mm == "Mar")
{
mm= "03";
}

else if (mm == "Apr")
{
mm= "04";
}

else if (mm == "May")
{
mm= "05";
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else if (mm == "Jun")
{
mm= "06";
}

else if (mm == "Jul")
{
mm= "07";
}

else if (mm == "Aug")
{
mm= "08";
}

else if (mm == "Sep")
{
mm= "09";
}

else if (mm == "Oct")
{
mm= "10";
}

else if (mm == "Nov")
{
mm= "11";
}

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

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)
{
Weeko = "Wed";
}

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

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)
{
mm2 = "Jan";
}

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;
if(i==(arr.length-1))
{

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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var CSV = new Array();

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;
}
}
for(i=0;i

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