AUD/NZD: the macro gap
On the Macro Currency Strength Meter, the Australian Dollar scores +13 and the New Zealand Dollar scores +20 — a gap of 7 points in favour of the New Zealand Dollar. The widest divergence is in growth, which favours the New Zealand Dollar. With both currencies scoring similarly, the fundamental case here is broadly balanced.
Strength gap
-6.7
Stronger side
NZD
Edge is
Holding steady
Scores
+13 vs +20
Factor by factor
Positive is stronger relative to the other majors, not in absolute terms. The gap column is AUD minus NZD.
| Factor | AUD | NZD | Gap |
|---|---|---|---|
| Interest Rates | +31 | +27 | +3.8 |
| Growth | -41 | — | -40.9 |
| Positioning | +30 | -5 | +35.0 |
| Risk Mood | +24 | +24 | +0.0 |
| Commodities | +15 | +33 | -18.0 |
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