EUR/AUD Gap -47.4 Updated 12 Sep, 03:15 UTC

EUR/AUD: the macro gap

On the Macro Currency Strength Meter, the Euro scores -28 and the Australian Dollar scores +20 — a gap of 47 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 Euro — though markets may already have priced much of it in.

EUR minus AUD, composite macro score over the past year. Above zero, the EUR side carries the edge; below, the AUD.

Strength gap

-47.4

Stronger side

AUD

Edge is

Narrowing

Scores

-28 vs +20

Factor by factor

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

Factor	EUR	AUD	Gap
Interest Rates	-58	+65	-123.7
Growth	—	-37	+37.4
Positioning	-2	+23	-24.8
Risk Mood	-0	+32	-31.5
Commodities	—	-10	+9.9

BASE

Euro

-28

Full EUR breakdown → QUOTE

Australian Dollar

+20

Full AUD breakdown →