The Opening Bell: Where currencies start on Wednesday, July 8, 2015

By Dan Bell

The NZDUSD opens slightly lower than yesterday at 0.6660.

European finance ministers are meeting today as part of a last-ditch effort to reach a new bailout agreement, after Greek voters rejected reform proposals in Sunday’s referendum.

A French Official, speaking to reporters in Brussels, has just announced that the ECB can support Greek Banks if aid is in the works, and that what Greece needs is a longer term deal. A new program could go 2 to 3 years.

The US Trade Deficit widened in the month of May to USD41.9 Billion from a revised USD 40.7 Billion in April.

Economists had expected the deficit to widen to USD42.7 billion.

Germany’s industrial production remained unchanged in May from the prior month. Production was forecast to rise 0.1 percent after expanding 0.6 percent in April, which was revised down from 0.9 percent.

The French trade deficit increased in May due to a fall in exports amid increasing imports, to EUR 4.02 billion from EUR 3.3 billion in April. It was larger the expected shortfall of EUR 3.6 billion.

Japan’s official reserve assets declined by $2.820 billion month-on-month to $1242.9 billion in June.

NZDUSD           0.6660        -0.3%

NZDEUR           0.6035        -0.1%

NZDGBP           0.4300        +0.5%

NZDJPY             81.60         -0.2%

NZDAUD           0.8925       +0.2%

NZDCAD           0.8450       +0.0%

US & Japanese equity markets were up overnight while UK, European & Chinese equity markets were down. Dow +0.43%, S&P 500 +0.54%, FTSE -1.58%, DAX -1.96%, CAC -2.27%, Nikkei +1.31%, Shanghai -1.29%, Hang Seng -1.03%.

The Gold price is down 1.5% at $1155.39 an ounce, Oil (WTI) is down again to $52.05 a barrel.


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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

var timestamweek = 604800000;
var timestamday = 86400000;
var timestammonth30 = 2592000000;
var timestammonth31 = 2678400000;
var timestamyear = 31536000000;
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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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var c_year=Number(current_year.substring(2,4));
var c_data=Number(''+fomat.substring(k2+1,k3+1));
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// conversion of months into numerical form

//+++++++++++++++++++++++++++++++++++
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mm= “10”;
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mm= “12”;
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var dd2 = time4.getDate();
var mm2 = time4.getMonth();
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var ahref_title=”Click here for full story”;
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var timestam = Date.parse(date);
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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++++++++++++++++++++++++++++
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Weeko = "Fri";
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else if (Weeko==6)
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Weeko = "Sat";
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Weeko = "Sun";
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mm2 = "Feb";
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mm2 = "Mar";
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else if (mm2==3)
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mm2 = "Apr";
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else if (mm2==4)
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mm2 = "May";
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else if (mm2==5)
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mm2 = "Jun";
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else if (mm2==6)
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mm2 = "Jul";
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mm2 = "Aug";
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else if (mm2==8)
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mm2 = "Sep";
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else if (mm2==9)
{
mm2 = "Oct";
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mm2 = "Nov";
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else if (mm2==11)
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mm2 = "Dec";
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//++++++++++++++++++++++++++++++++++++++++

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fomat2=mm2+”-“+yy4;
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fomat2=mm2+”-“+yy4;
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var xvalu=dd2+”-“+mm2+”-“+yy4;
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//chart configuration starts here

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var xmlhttp = new window.XMLHttpRequest();
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throw new Error("MSXML is not installed on your system.");
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function readCSV(locfile) {
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var req = new getXMLHttpRequest(locfile);
//req.open("POST",locfile,false);
req.send("");
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}

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

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

}
fstart=-1;
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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)
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var deca1= deca;
var deca2= parseInt(deca);
if((deca1-deca2)!=0)
{
return 2;
}
else
{
return 0;
}
}
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