AUD/CAD Gap +24.0 Updated 12 Sep, 03:15 UTC

AUD/CAD: the macro gap

On the Macro Currency Strength Meter, the Australian Dollar scores +20 and the Canadian Dollar scores -4 — a gap of 24 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 Canadian Dollar — though markets may already have priced much of it in.

AUD/CAD STRENGTH GAP1Y · BASE MINUS QUOTE0+24+64-7+24 AND FADING
AUD minus CAD, composite macro score over the past year. Above zero, the AUD side carries the edge; below, the CAD.
Strength gap
+24.0
Stronger side
AUD
Edge is
Narrowing
Scores
+20 vs -4

Factor by factor

Positive is stronger relative to the other majors, not in absolute terms. The gap column is AUD minus CAD.

FactorAUDCADGap
Interest Rates +65 -24 +89.5
Growth -37 -28 -9.6
Positioning +23 +30 -7.2
Risk Mood +32 +19 +12.6
Commodities -10 -1 -8.8
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