AUD/CHF: the macro gap
On the Macro Currency Strength Meter, the Australian Dollar scores +18 and the Swiss Franc scores -29 — a gap of 47 points in favour of the Australian Dollar. The widest divergence is in risk mood, 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
+47.4
Stronger side
AUD
Edge is
Narrowing
Scores
+18 vs -29
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 | +31 | -46 | +76.5 |
| Growth | -39 | — | -38.8 |
| Positioning | +49 | +7 | +42.4 |
| Risk Mood | +44 | -44 | +87.8 |
| Commodities | +1 | — | +1.4 |
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