A currency strength meter that says why

Name: Currency strength of the eight major currencies, from the ECB reference rates
Creator: MacroSetup

A currency strength meter ranks the eight majors against each other, so you can see which currency is carrying a pair and which is dragging it. Below is the price version, free, from the ECB reference rates: a table, a 28-pair heat map and a chart per currency. The members' version ranks them on the macro behind them, and puts the reason next to the ranking.

On the ECB reference rates of 6 November 2026, the Swiss franc (CHF) was the strongest of the eight majors over 5 trading days, up 1.28% on average against the other seven, and the Australian dollar (AUD) the weakest, down 1.81%.

Create a free account What a meter misses

By Mike, founder of MacroSetup. Page updated 24 October 2026. Price table and charts once every working day, after the ECB rates. Macro ranking every morning, checked every hour on trading days.

An example: the ranking on a members' dashboard on an earlier day. Today's price ranking is below.

Currency strength meter today: the eight majors by price

Each figure is a currency's average change against the other seven majors between two ECB reference rates. The heat map shows the 28 pairs behind those averages, so you can see which pair carried a move.

The eight majors by price

Average change of each major currency against the other seven, by the ECB reference rates up to 6 November 2026, sorted by 5 days
Currency	1 day	5 days	20 days
CHFSwiss franc	+0.59%	+1.28%	+1.62%
USDUS dollar	+0.73%	+0.71%	-0.08%
EUREuro	+0.13%	+0.64%	-0.49%
GBPBritish pound	+0.10%	+0.59%	+1.35%
JPYJapanese yen	+0.83%	-0.07%	-0.13%
CADCanadian dollar	-0.09%	-0.09%	+1.22%
NZDNew Zealand dollar	-0.86%	-1.18%	-1.51%
AUDAustralian dollar	-1.40%	-1.81%	-1.88%

Average change against the other seven majors, from the ECB rate of 5 November 2026 (1 day), 30 October 2026 (5 days) and 9 October 2026 (20 days) to 6 November 2026.

Currency heat map: 28 pairs over 5 days

The change in each pair's price. Green means the first currency gained on the second. Point at a pair for all three periods, or open it.

From 30 October 2026 to 6 November 2026. A deeper colour is a bigger move, measured against the largest of the 28 over the same period.

Source: ECB statistics, the euro foreign exchange reference rates, latest of 6 November 2026, fetched through Frankfurter. The averages and the pair changes are our own calculation from those rates. The ECB publishes them at around 16:00 CET on working days, for information purposes only, so this is a reading once a day and not a live or dealing price. Compiled by Mike at MacroSetup.

Why it moved is the members' part

Price says which currency moved. It does not say whether the central bank, the data and the risk mood are behind the move, which is what decides whether it lasts. Members see the eight ranked on that every morning, with the reason for each in a sentence.

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In short

What the ECB reference rates up to 6 November 2026 say. Written from the figures on this page with every new rate, without a view and without a forecast.

Over the 5 trading days from 30 October to 6 November 2026, the Swiss franc (CHF) was the strongest of the eight majors, up 1.28% on average against the other seven, and the Australian dollar (AUD) the weakest, down 1.81%.
Over the 20 trading days from 9 October to 6 November 2026, the Swiss franc (CHF) was the strongest of the eight majors, up 1.62% on average against the other seven, and the Australian dollar (AUD) the weakest, down 1.88%.
Over the 30 trading days on the chart, from 25 September to 6 November 2026, the Swiss franc (CHF) was the strongest of the eight majors, up 1.97% on average against the other seven, and the Australian dollar (AUD) the weakest, down 1.96%.
From 30 October to 6 November 2026, the biggest moves among the 28 pairs were AUD/CHF down 2.67%, AUD/USD down 2.19% and EUR/AUD up 2.18%.
On 6 November 2026, four of the eight majors went against their 20-day move: the Japanese yen (JPY) up 0.83% on the day against a 20-day fall of 0.13%, the US dollar (USD) up 0.73% on the day against a 20-day fall of 0.08%, the euro (EUR) up 0.13% on the day against a 20-day fall of 0.49% and the Canadian dollar (CAD) down 0.09% on the day against a 20-day rise of 1.22%.

Currency strength chart: each major over 30 trading days

The meter above is a snapshot. A currency strength chart shows the same measure day by day, so you can see whether a reading is a trend or a single jump, and which currencies moved together.

Updated once a day, not live. The ECB publishes its reference rates at around 16:00 CET on working days, and the charts move on by one day with each new rate. The latest here is that of 6 November 2026.

CHF
+1.97%
Swiss franc
6 Nov
Last 5 days+1.28%
GBP
+1.80%
British pound
6 Nov
Last 5 days+0.59%
CAD
+1.28%
Canadian dollar
6 Nov
Last 5 days-0.09%
USD
+0.65%
US dollar
6 Nov
Last 5 days+0.71%
JPY
+0.12%
Japanese yen
6 Nov
Last 5 days-0.07%
EUR
-1.75%
Euro
6 Nov
Last 5 days+0.64%
NZD
-1.93%
New Zealand dollar
6 Nov
Last 5 days-1.18%
AUD
-1.96%
Australian dollar
6 Nov
Last 5 days-1.81%

Each chart starts at zero on 25 September 2026 and shows the currency's average change against the other seven majors since then, in percent. The charts are sorted from the strongest to the weakest over the 30 trading days, and share one scale. Point at a chart, tap it or use the arrow keys to read a day in all eight at once.

The chart as a table: every day, every currency

Average change of each major against the other seven since 25 September 2026, in percent, per ECB reference rate, the latest first
Date	USD	EUR	JPY	GBP	CHF	AUD	NZD	CAD
6 November 2026	+0.65%	-1.75%	+0.12%	+1.80%	+1.97%	-1.96%	-1.93%	+1.28%
5 November 2026	-0.09%	-1.88%	-0.71%	+1.70%	+1.37%	-0.57%	-1.08%	+1.36%
4 November 2026	-0.34%	-1.70%	-0.82%	+1.78%	+1.45%	-0.59%	-1.03%	+1.35%
3 November 2026	+0.08%	-2.17%	-0.42%	+1.45%	+1.25%	-0.67%	-0.86%	+1.45%
2 November 2026	-0.07%	-1.95%	-0.30%	+1.37%	+1.13%	-0.43%	-0.97%	+1.31%
30 October 2026	-0.06%	-2.37%	+0.19%	+1.20%	+0.68%	-0.15%	-0.76%	+1.36%
29 October 2026	+0.33%	-2.42%	-0.01%	+0.89%	+0.29%	+0.25%	-0.77%	+1.53%
28 October 2026	+0.43%	-2.29%	+0.16%	+0.73%	+0.11%	+0.47%	-0.74%	+1.21%
27 October 2026	+0.07%	-2.47%	-0.10%	+0.72%	+0.02%	+0.10%	+0.71%	+1.04%
26 October 2026	-0.01%	-2.16%	+0.10%	+0.82%	+0.29%	-0.10%	+0.19%	+0.93%
23 October 2026	-0.17%	-2.27%	+0.40%	+0.83%	+0.38%	-0.30%	+0.15%	+1.03%
22 October 2026	-0.13%	-2.12%	+0.26%	+0.93%	+0.73%	-0.43%	+0.07%	+0.75%
21 October 2026	-0.15%	-1.84%	-0.36%	+1.13%	+0.45%	-0.09%	+0.28%	+0.63%
20 October 2026	+0.09%	-1.80%	-0.30%	+0.90%	+0.73%	-0.65%	+0.25%	+0.83%
19 October 2026	+0.17%	-1.62%	-0.31%	+0.84%	+0.62%	-0.56%	+0.18%	+0.73%
16 October 2026	+0.25%	-1.26%	-0.06%	+0.97%	+0.85%	-0.92%	+0.11%	+0.10%
15 October 2026	+0.81%	-1.15%	+0.53%	+0.76%	+0.55%	-1.14%	-0.61%	+0.29%
14 October 2026	+0.68%	-1.42%	+0.05%	+0.80%	-0.03%	+0.34%	-0.47%	+0.07%
13 October 2026	+0.75%	-1.42%	+0.36%	+0.70%	+0.19%	-0.10%	-0.42%	-0.04%
12 October 2026	+0.89%	-1.35%	+0.16%	+0.74%	+0.26%	-0.03%	-0.56%	-0.07%
9 October 2026	+0.72%	-1.26%	+0.24%	+0.45%	+0.34%	-0.08%	-0.43%	+0.05%
8 October 2026	+0.99%	-1.20%	+0.49%	+0.59%	+0.24%	-0.43%	-0.67%	+0.03%
7 October 2026	+0.95%	-1.34%	+0.48%	+0.53%	+0.31%	-0.35%	-0.60%	+0.05%
6 October 2026	+0.57%	-0.78%	+0.21%	+0.78%	+0.26%	-0.22%	-0.51%	-0.29%
5 October 2026	+0.85%	-1.16%	+0.38%	+0.61%	+0.47%	-0.30%	-0.77%	-0.04%
2 October 2026	+0.70%	-1.10%	+0.63%	+0.25%	+0.93%	-0.79%	-0.50%	-0.09%
1 October 2026	+0.72%	-0.34%	+0.43%	+0.56%	-0.24%	-0.58%	-0.41%	-0.11%
30 September 2026	+0.32%	-0.17%	+0.75%	+0.61%	-0.56%	-0.71%	-0.21%	-0.01%
29 September 2026	+0.24%	-0.25%	+0.58%	+0.19%	-0.44%	-0.18%	-0.06%	-0.06%
28 September 2026	+0.06%	-0.19%	+0.57%	+0.15%	-0.42%	-0.05%	+0.02%	-0.13%
25 September 2026	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

How to read a currency strength meter

A currency strength meter, also called a currency strength index or a forex strength meter, measures each currency against a basket of the others instead of against the dollar alone. That is what makes the eight comparable: a currency that is up on the dollar and down on everything else is not strong.

For the strongest and the weakest of the latest day, there is the strongest currency today. For why pairs that share a currency move together, see currency correlation.

01
Start with the sign
A positive figure means the currency gained on the other seven majors on average over the period, a negative one that it lost. The eight figures add up to roughly zero, because every pair has a winner and a loser: one currency can only be strong if others are weak.
02
Compare two currencies
The further apart two currencies sit in the table, the more the pair between them moved. If the Canadian dollar is at the top and the yen at the bottom, CAD/JPY will be one of the deepest cells in the heat map, which gives the exact move.
03
Check whether the move is broad
Find a currency's seven pairs in the heat map, keeping in mind that green means the first currency of the pair gained. If it gained in all seven, the move is its own. If it gained on one and barely moved against the rest, it is mostly riding that other currency's weakness.
04
Line up the periods
The 1-day figure is what moved since the last rate, the 5 and 20-day figures what lies under it. When the day goes against the month, the In short block names the currency. The chart shows whether a 20-day figure came from a steady climb or from one big day.

What price strength cannot tell you

The figures on this page are exact about the ECB rates they come from. That is also where they stop.

Why it moved: A rate decision, a surprise in the data and a rush into safe havens can all print the same green figure. Price records the result, not the cause.
What happened during the day: The ECB sets one rate per currency a day, from a concertation between central banks at around 14:10 CET, and publishes it at around 16:00 CET. A move that came and went in the morning is not in the figures, and one that happened after the fix waits for the next rate.
What comes next: A currency that has gained for 20 days can keep going or turn the next day. Nothing on this page is a forecast, and none of it is advice to buy or sell.
A price you could have dealt at: The ECB publishes the reference rates for information only and discourages their use for transactions. Pairs without the euro, such as GBP/JPY, are worked out from two euro rates, so they can differ a little from your platform's quote at the same moment.
How much each currency matters: The basket weighs the eight equally, so the New Zealand dollar counts as much as the US dollar, and one big move in a single currency shows up in the figures of all seven others.
Days without a rate: On TARGET closing days, such as Christmas Day, the ECB publishes no rates, so the table and the charts stay on the last one until it does.

The cause is the part MacroSetup reads for members: the central bank, the data that bank watches and the risk mood, with each of the eight ranked every morning and the reason next to it. How that works, without the formulas, is on how it works. The rates themselves are on the ECB's reference rate page.

Price strength against macro strength

Both kinds are useful, and they answer different questions. A price meter tells you what has happened. A macro ranking tells you what the economy behind the currency argues for. Traders who use both usually let the macro pick the side and the chart pick the moment.

	A meter built on price	The MacroSetup ranking
What it measures	How far each currency has moved against the others over a chosen period.	What the economy behind each currency argues for now, with the move of the week as one small part of it.
Where the number comes from	Price only, so the same formula on any feed gives the same answer.	Central bank stance and rate level, the releases that bank watches, risk sentiment across markets, geopolitics, and price.
What it tells you about tomorrow	Nothing directly. A currency that has risen for five days can keep going or turn.	Which side the macro leans, which is a reason to hold a view, not a promise about tomorrow.
When it misleads	After a one-off spike, or when a whole basket moves together and every reading shifts at once.	When the news is already in the price, which is why the price check sits next to every score.

Try it: two currencies make a pair

The macro ranking gives each of the eight majors a score from 0 to 100. A pair's score is the first currency's score minus the second's, so a positive number favours the first. Tap two currencies to see the bias and the four parts behind it.

The example uses real scores from 17 September 2026, not today's.

Read the methodology

Currency strength

Example from 17 Sep 2026

Tap two currencies to see the pair.

EUR/USD

Strongly bearish

-26

BearishBullish

Risk sentiment: -2
Fundamentals: -11
Geopolitics: -10
Price strength: -3

How to read the ranking

Each currency gets a score from 0 to 100 and a place from 1 to 8. The number itself matters less than the distance between two currencies: a gap of twenty points between the top and the bottom is a week with a direction; a field where everything sits between 45 and 55 is a week to trade smaller.

A pair is two places in the same list. Long the first, short the second, and the score of the pair is simply the difference. That is the old rule of the strength meter, buy the strongest and sell the weakest, with the work moved to deciding which is which.

Next to every currency sits the reason it is there, in a sentence: the decision, the release or the shift in the risk mood that put it up or down. If you disagree with the reason, you can ignore the score, and that is the point of publishing it.

What no strength meter can do

Time an entry. A ranking has no idea where your level is.
Survive a surprise. A central bank that turns in one meeting turns the ranking with it.
Tell you how much to risk. That stays a decision about your account, not about the market.
Prove itself with a screenshot. Ours is measured on price every day and published with the misses on the track record.

The longer version, including the three things a price meter leaves out, is in our piece on strength meters.

Questions about strength meters

What is a currency strength meter?

It is a ranking of currencies against each other, so you can see which one is strong and which one is weak instead of reading 28 charts. The table on this page does that on price, from the ECB reference rates. The MacroSetup ranking for members does it on the macro behind each currency and shows the price next to it.

How is the price strength table calculated?

From the ECB euro foreign exchange reference rates, which the ECB publishes once a day at around 16:00 CET. For each of the 28 pairs we take the change in its price between two reference rates, and a currency's figure is the average of its seven pair changes. Positive means it gained on the other seven on average.

How accurate is a currency strength meter?

A price meter is exact about the past and says nothing about what comes next, so it tells you which side has been winning, not where to get in or how much to risk. Any meter that claims to predict is selling something. What can be checked is a published ranking measured against price afterwards, which is what our track record does, misses included. The track record

Which timeframe should I use?

The table shows 1, 5 and 20 trading days: the day for what moved since the last fix, the week and the month for the trend underneath it. Our macro ranking is built for the trading day and the week, because that is the pace macro moves at. For a five-minute entry a strength meter is the wrong tool in any form.

How often is it updated?

The price table once a day, after the ECB publishes its reference rates, so it is not live. The macro ranking for members gets a full run each morning around 08:00 Amsterdam time, a check every hour on trading days, and an extra run when something big happens, and each update says what changed and why.

Is it free?

Partly. The price table on this page is free and needs no account. A free account, with no card, shows EUR/USD, USD/JPY and two pairs of the week in full. The ranking of the eight with the reasons behind it is Premium, which starts with 14 days free once you add a card. What it costs