AUD/CHF: the macro gap
On the Macro Currency Strength Meter, the Australian Dollar scores +24 and the Swiss Franc scores -43 — a gap of 66 points in favour of the Australian Dollar. The widest divergence is in interest rates, which favours the Australian Dollar. All else equal that gap is a fundamental tailwind for the Australian Dollar against the Swiss Franc — though markets may already have priced much of it in.
Strength gap
+66.2
Stronger side
AUD
Edge is
Widening
Scores
+24 vs -43
Factor by factor
Positive is stronger relative to the other majors, not in absolute terms. The gap column is AUD minus CHF.
| Factor | AUD | CHF | Gap |
|---|---|---|---|
| Interest Rates | +65 | -45 | +110.4 |
| Growth | -32 | — | -31.8 |
| Positioning | +55 | -31 | +86.8 |
| Risk Mood | +53 | -53 | +105.8 |
| Commodities | -59 | — | -58.6 |
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