NZD/CHF: the macro gap
On the Macro Currency Strength Meter, the New Zealand Dollar scores +28 and the Swiss Franc scores -29 — a gap of 57 points in favour of the New Zealand Dollar. The widest divergence is in risk mood, which favours the New Zealand Dollar. All else equal that gap is a fundamental tailwind for the New Zealand Dollar against the Swiss Franc — though markets may already have priced much of it in.
Strength gap
+56.8
Stronger side
NZD
Edge is
Narrowing
Scores
+28 vs -29
Factor by factor
Positive is stronger relative to the other majors, not in absolute terms. The gap column is NZD minus CHF.
| Factor | NZD | CHF | Gap |
|---|---|---|---|
| Interest Rates | +26 | -46 | +72.4 |
| Positioning | +26 | +7 | +19.8 |
| Risk Mood | +44 | -44 | +87.8 |
| Commodities | +14 | — | +14.1 |
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