🎈Aussie Softness In Line With Macro Sentiment: Cable FX Macro

**As seen in Macro Walk report 08/25/23, subscribe at cablefxm.co.uk/reports

• The Economic Surprise section in our Macro Walk report has seen the dollar metric lead G10 peers despite a recent pullback. The GBP equivalent follows, the index extended upside this week

• Australia, Canada, Switzerland and EU stand on the negative side of the scale, the eurozone index bottoms the group but has stabilized in recent weeks

• The graph below plots a spread of Australia and U.S. CESIs and AUD/USD spot FX rate. As the CESI spread moves lower to favour U.S. macro sentiment, we have seen the Aussie catch down lower with a lag