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The currency strength meter below shows which of the major currencies have gained and lost the most against the others over the past weeks, using the daily reference rates of the European Central Bank. The correlation table under it shows which pairs move together. Both are data tools. Neither is a forecast.
The strength meter needs JavaScript. It ranks eight major currencies by their average move against the other seven over the window you pick.
Correlation table
Correlation of daily returns for major pairs over the last 60 trading days. +1 means the pairs move together, −1 means they move opposite, 0 means no link.
Data: European Central Bank reference rates, published once a day at about 16:00 Central European Time, via the Frankfurter API. Daily data, not live prices. Weekends and ECB holidays have no rate.
How the strength meter works
For each currency the tool takes the ECB reference rate on each business day over the chosen window and measures the change against a basket of the other majors. A currency that rose against most of the others shows as strong. One that fell shows as weak. The rates are the ECB’s daily fixings, published once a day around 16:00 central European time, so the meter updates once a day and shows the trend, not the tick.
What the correlation table shows
The table compares the daily moves of the major pairs over the same window and gives each pair of pairs a number from minus one to plus one. Plus one means they moved together every day. Minus one means they moved in opposite directions every day. EUR/USD and USD/CHF usually sit near minus one, because the dollar is on opposite sides of each. Two positions in pairs that correlate at plus 0.9 are close to one double-sized position, which matters when you size trades.
What this tool is not
People search for a forex screener, a scanner or a filter and expect a tool that tells them what to buy. This one does not. It shows what has already happened to each currency over the window you choose. A strong currency can keep rising or turn around, and the meter cannot tell which. Use it to understand your exposure, not to pick trades.
How to use it with the other tools
If the meter shows the yen weakest and the dollar strongest over a month, USD/JPY has been trending, and its daily range on our volatility entry explains how far it moves. Our market hours clock shows when each currency’s home session is open, and the profit and loss calculator sizes a position for the range you expect.
Questions people ask
Where does the price data come from?
From the European Central Bank’s daily euro reference rates, fetched through the free Frankfurter service. The rates cover the euro against about 30 currencies once a business day, and the tool derives every cross rate from them.
Is this a currency strength indicator for MetaTrader?
It is a web tool that runs on this page in your browser, not a MetaTrader indicator. MetaTrader indicators with the same name calculate strength from intraday prices on your broker’s feed and update every tick.
Why do some pairs show a low correlation this month and a high one last month?
Correlations change with what is driving the market. A rate decision can push two pairs apart for weeks and then let them drift back together. Read the number as a snapshot of the window you chose.
Sources: European Central Bank euro foreign exchange reference rates, via api.frankfurter.app. The last update time is shown in the tool. Checked 25 September 2026.
Risk warning: trading forex and CFDs on margin carries a high risk of losing money. Most retail accounts lose money. Never trade with money you cannot afford to lose.