If, during an INSERT or UPDATE you either set the first timestamp-type field's value to NULL or do not assign it at all, it should automatically be set to the current date and time, unless you have specifically defined it not to:
In a CREATE TABLE statement, the first TIMESTAMP column can be declared in any of the following ways:
With both DEFAULT CURRENT_TIMESTAMP and ON UPDATE CURRENT_TIMESTAMP clauses, the column has the current timestamp for its default value, and is automatically updated.
With neither DEFAULT nor ON UPDATE clauses, it is the same as DEFAULT CURRENT_TIMESTAMP ON UPDATE CURRENT_TIMESTAMP.
With a DEFAULT CURRENT_TIMESTAMP clause and no ON UPDATE clause, the column has the current timestamp for its default value but is not automatically updated.
With no DEFAULT clause and with an ON UPDATE CURRENT_TIMESTAMP clause, the column has a default of 0 and is automatically updated.
With a constant DEFAULT value, the column has the given default. If the column has an ON UPDATE CURRENT_TIMESTAMP clause, it is automatically updated, otherwise not.
In other words, you can use the current timestamp for both the initial value and the auto-update value, or either one, or neither. (For example, you can specify ON UPDATE to get auto-update without also having the column auto-initialized.)
Above from: http://dev.mysql.com/doc/refman/4.1/en/timestamp-4-1.html
Note that it only applies to the first timestamp-type field in the table. All others will need to be explicitly set by your queries. Also, there is nothing stopping you from explicitly setting the first one if you so desire.