NZD/USD: the macro gap
On the Macro Currency Strength Meter, the New Zealand Dollar scores -4 and the US Dollar scores -3 — a gap of 1 points in favour of the US Dollar. The widest divergence is in risk mood, which favours the New Zealand Dollar. With both currencies scoring similarly, the fundamental case here is broadly balanced.
Strength gap
-1.0
Stronger side
USD
Edge is
Narrowing
Scores
-4 vs -3
Factor by factor
Positive is stronger relative to the other majors, not in absolute terms. The gap column is NZD minus USD.
| Factor | NZD | USD | Gap |
|---|---|---|---|
| Interest Rates | +10 | -29 | +39.3 |
| Growth | — | +15 | -14.8 |
| Positioning | -42 | +40 | -81.7 |
| Risk Mood | +53 | -32 | +84.6 |
| Commodities | -39 | — | -39.1 |
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