Currency Strength Meter

Live relative strength of the major currencies today.

Currency Strength Meter

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A currency strength meter ranks currencies from strongest to weakest by how much they have moved today. This one covers the eight majors, USD, EUR, GBP, JPY, AUD, CAD, CHF and NZD, and builds each score from the daily percentage change of seven US dollar pairs, using live market prices.

How to Read the Currency Strength Meter

  1. Start at the top. Currencies are sorted from the strongest score to the weakest.
  2. Read the figure on the right: the currency's percentage move today.
  3. Look at the bars. Green, to the right of centre, means the currency has gained; red, to the left, means it has lost. Bar length is relative to the biggest move.
  4. Compare the top and bottom of the list to find strong-versus-weak pairings.
  5. Refresh the page for the latest figures, as the scores are loaded when the page opens.

How the Strength Score Is Worked Out

The meter reads today's percentage change, from the previous daily close, for EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD and NZD/USD. In each pair the first (base) currency takes the change and the second (quote) currency takes the opposite sign.

Score for EUR, GBP, JPY, CHF, AUD, CAD or NZD = its percentage change against the US dollar

USD score = sum of its seven signed changes ÷ 7

So a 0.30% rise in EUR/USD gives EUR +0.30% and USD −0.30%, while a 0.40% fall in USD/JPY gives JPY +0.40%. The other seven currencies are measured against the dollar only.

Worked Example

Suppose EUR/USD is up 0.30% today, GBP/USD up 0.10%, USD/JPY down 0.40%, USD/CHF down 0.20%, AUD/USD up 0.50%, USD/CAD up 0.10% and NZD/USD up 0.15%. The scores are AUD +0.50, JPY +0.40, EUR +0.30, CHF +0.20, NZD +0.15, GBP +0.10 and CAD −0.10. For the dollar, (−0.30 − 0.10 − 0.40 − 0.20 − 0.50 + 0.10 − 0.15) ÷ 7 = −1.55 ÷ 7 = −0.22. The meter lists AUD at the top and USD at the bottom, so AUD/USD is the strongest-versus-weakest pairing, and AUD/CAD is another to watch.

How Traders Use It

Traders use strength readings as a filter rather than a signal on their own. Pairing a strong currency with a weak one often gives a cleaner trend. Early in the day the moves are small, so the ranking can change quickly.

Go deeper with our guides to currency correlation, the US dollar index (DXY) and the best currency pairs to trade. To time your trades, check the forex market hours clock.

FAQ

How is strength measured?

Each currency's score is its percentage change today against the US dollar, taken from the seven major dollar pairs at live market prices. The US dollar's own score is the average of its moves against the other seven currencies.

How do I use a currency strength meter to pick pairs?

Look for a currency near the top of the list and one near the bottom, then consider the pair that combines them, buying the strong one against the weak one. Confirm the idea on a chart before you trade, as today's ranking can change.

Which currencies does the meter cover?

The eight majors: the US dollar, euro, British pound, Japanese yen, Australian dollar, Canadian dollar, Swiss franc and New Zealand dollar. Between them they make up the most traded currency pairs, including the popular crosses.

How often does the meter update?

The scores are loaded when you open the page and show the change since the previous daily close. Refresh the page to fetch the latest figures, for example before you plan a trade or after a major news release.

Why does the meter say data is unavailable?

The meter needs today's price changes. If live prices cannot be loaded, or every change is zero, it shows a message instead of a ranking. This can happen when the market is closed, so try again once trading resumes.

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