Currency Strength Meter for Australia traders

This tool calculates the relative strength of each G8 currency by averaging its performance against all G7 peers over your chosen lookback period. For Australia traders, it helps identify which currencies are driving moves in AUD pairs — without needing a live account.

The Currency Strength Meter normalises each major currency's percentage change against every other G8 currency over your selected timeframe. By averaging these cross-pair performances, it produces a single strength score per currency. A positive score means the currency is gaining relative to the group; negative means it's weakening.

Strength score = avg(performance of currency vs each of G7 peers, normalised over chosen lookback)

The formula uses mid-market rates from our aggregated feed. For AUD-denominated accounts, the tool automatically converts all values to AUD at the prevailing rate — no manual adjustment needed. Pip values and lot sizes follow standard forex conventions (100,000 units per standard lot).

Example: 24-hour lookback, all G8 currencies

• Lookback: 24 hours
• Currencies: USD, EUR, JPY, GBP, AUD, NZD, CAD, CHF
• Data: Mid-market rates from 00:00 UTC to 00:00 UTC

We calculate each currency's percentage change against its seven peers over 24 hours, average those seven values, and normalise to a single score.

Result: Strongest: USD +0.62%; weakest: JPY -0.41%; AUD neutral 0.05%

A round-trip trade on AUD/JPY would incur approximately 0.46% in relative strength drag before any spread or commission.

• JPY pairs use 0.01 pip-step (vs 0.0001) — The tool automatically adjusts pip calculations for JPY crosses; no manual conversion needed.
• Non-USD account adds FX-conversion drag — If your account is in AUD, the tool factors in the AUD/USD conversion rate at calculation time.
• Mini/micro lots scale linearly — Results for 0.1 lot (10,000 units) are exactly 1/10th of standard lot values.
• Weekend gaps cause anomalous readings — Strength scores calculated over Monday open vs Friday close may show exaggerated moves due to gap fills.

• Market Hours — See when each major session opens (Sydney, Tokyo, London, New York) to align your strength readings with active trading hours.
• Volatility Calculator — Measure expected price ranges for pairs you're analysing with the strength meter.
• Pip Calculator — Convert strength scores into actual pip values for position sizing.

• Majors — The most traded currency pairs (EUR/USD, USD/JPY, GBP/USD, USD/CHF) that form the backbone of strength calculations.
• Minors — Cross-pairs excluding USD (EUR/GBP, AUD/JPY) that provide additional strength data points.
• Trend — The directional bias confirmed when multiple currencies show consistent strength or weakness over your lookback period.

If you don't have a broker yet and want to test these calculations on a demo, FxPro accepts Australia residents. We are FxPro affiliates — see disclosure.

Open FxPro demo →