FXCIPI MARKET WORKBENCH
Market comparison workbench
Compare two instruments on the same scale, calculate a cross rate, and keep a record of what you observed.
COMPARE ON THE SAME BASIS
Different starting prices. One baseline: 100.
Enter a start and end price for the same period. Setting both starting values to 100 makes their relative changes comparable.
The defaults below are hypothetical values for this example.
Hypothetical example result
100 105
100 103
This compares price changes. It does not assume or include fees, spreads or conversion costs.
Follow the calculation
Percentage change(End ÷ Start − 1) × 100A: (105 ÷ 100 − 1) × 100 = 5%
B: (206 ÷ 200 − 1) × 100 = 3%
Normalized end valueEnd ÷ Start × 100In the hypothetical example, compare A at 105 and B at 103 from the same starting point of 100. The difference between 5% and 3% is 2 percentage points.
Use the same period and price basis for both inputs. Two endpoints do not show how much prices fluctuated between them.
READ THE CURRENCY DIRECTION
Calculate GBP/AUD using USD as the common quote
When both inputs are quoted in USD, divide GBP/USD by AUD/USD. Keep track of the order of the currencies.
Hypothetical example · 1 GBP = 1.25 USD / 1 AUD = 0.625 USD
Hypothetical example result
1 GBP = 2 AUD
1 AUD = 0.5 GBP
Check the denominator and currency direction
GBP/AUD = 1.25 ÷ 0.625 = 2
GBP/USD is USD per pound, while AUD/USD is USD per Australian dollar. Using USD as the common quote gives the number of AUD per GBP.
Reversing the pair also changes the value. AUD/GBP = 0.625 ÷ 1.25 = 0.5
The result is the arithmetic ratio of your two inputs. It is not an executable exchange price and does not assume bid/ask quotes or costs. Do not enter a reversed quote such as USD/GBP without converting its direction.
KEEP THE CONTEXT WITH THE NUMBER
Record the context behind the numbers
Recording the instrument, source and time context helps you repeat a comparison on the same basis later.
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