AUD/NZD

Fundamentals favour the Australian Dollar by 49 points.

On the Macro Currency Strength Meter, the Australian Dollar scores +51 and the New Zealand Dollar scores +2 — a gap of 49 points in favour of the Australian Dollar. The widest divergence is in positioning, which favours the Australian Dollar. All else equal that gap is a fundamental tailwind for the Australian Dollar against the New Zealand Dollar — though markets may already have priced much of it in.