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EUR #7 of 8 Updated 1 Oct, 04:18 UTC

Euro

The Euro is under pressure, ranking #7 of eight with a score of -39. Positioning is a clear headwind — speculative futures traders are heavily net-short the Euro, among the most bearish readings in years. That adds selling pressure, though such crowded shorts can snap back quickly. On a valuation basis, it looks cheap versus its own one-year range, which may help cushion the downside from here.

EUR MACRO STRENGTH1Y · MACRO SCORE-39+7-48-39 AND FADING
Composite macro score over the past year. Range −100 to +100; zero is the middle of the pack.
Score
-39
Rank
#7 of 8
Trend
Stable -3.7
Price, 3 months
-0.8%

The five factors

Interest Rates -66
Positioning -26
Risk Mood -0

Partial data this run: monetary.

Model versus price

{'state': 'inline', 'label': 'Broadly in line', 'detail': 'No strong divergence: the -39 fundamental read and the -0.8% three-month move against the dollar are roughly consistent.'}

The readings behind it

IndicatorLatestAs of
10-year yield3.18% 2026-08-01
Real 10-year (after inflation)-0.05% (3.2% CPI) 2026-08-01
Fund positioning14th pctile 2026-09-22
3-month move vs USD-0.8% None
Valuation (vs 1-yr norm)historically cheap None

Strength gap against the other majors

A positive gap means the Euro scores higher than the other side of the pair right now.

PairGapStronger side
EUR/CHF +1.2 EUR
EUR/GBP -10.9 GBP
EUR/CAD -30.2 CAD
EUR/USD -44.4 USD
EUR/AUD -51.7 AUD
EUR/NZD -58.4 NZD
EUR/JPY -82.4 JPY