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Les fondamentaux de l'économie désignent les données d'ordre macroéconomique d'un pays. Ainsi, le PIB, l'inflation, ou bien encore les taux d'intérêt directeurs sont considérés comme des fondamentaux. • La balance commerciale (au sens large) a une incidence importante sur le taux de change. Comme vu plus haut : les excédents sont responsables de l'appréciation monétaire, les déficits des dépréciations. • Le pouvoir d'achat d'une devise dépend beaucoup des prix appliqués. L'inflation fait mécaniquement baisser les taux de change d'un pays.

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