FUNDAMENTALLY RIGHT · NOT YET OBVIOUSLY RIGHT

Know what the
market doesn't
know yet.

Seven macro pillars. 58 pairs. One verdict. It tells you where the market is going — before it gets there. Enter when the macro is right, not when it's obvious.

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MELIORA TERMINAL · MACRO ANALYSIS LIVE
EUR/USD
1.0812 ▼ −0.21%
7-Pillar Scoring · Base: EUR · Quote: USD · LIVE
Rate Differential
−2
Central Bank Path
+1
Inflation Bias
0
Growth Bias
−2
Political Risk
0
Risk Sentiment
0
Terms of Trade
0
Composite Score
MILDLY BEARISH EUR
−3
AI Interpretation USD holds a 1.35% rate advantage with broad growth beats. ECB path is the one EUR tailwind but insufficient to offset USD macro dominance. Bias: short EUR on rallies.

Process

From raw data to
actionable conviction.

Three steps. No guesswork. No technicals. Just macro fundamentals done right.

Step 01
Pick Your Pair

Select any of 21 currencies across 58 pairs. The terminal reads from a live database updated daily — no API delays, no stale numbers.

Step 02
Score the Macro

The 7-pillar engine scores each currency mathematically — rate differentials, central bank path, inflation, growth, political risk, sentiment, and trade. No bias. No override.

Step 03
Get Your Verdict

A composite score and AI interpretation tells you exactly where the macro edge is — and whether the trade is worth taking before the market catches on.

Methodology

Watch a verdict
get built —
step by step.

This is a real live EUR/USD analysis. Press Next to walk through each pillar and watch the score build to a verdict.

START
EUR/USD Selected
PILLAR 01
Rate Differential
PILLAR 02
Central Bank Path
PILLAR 03
Inflation Bias
PILLAR 04
Growth Bias
PILLAR 05
Political Risk
PILLAR 06
Risk Sentiment
PILLAR 07
Terms of Trade
VERDICT
Final Score
RUNNING SCORE · EUR/USD
Score: —
Analysis Started
EUR / USD
The terminal loads Base currency (EUR) and Quote currency (USD) from the local database, then runs 7 pillars in sequence.
BASE
EUR
Euro · ECB
→
QUOTE
USD
Dollar · Fed
Score starts at 0. Each pillar adds or subtracts based on which currency holds the macro advantage.
Pillar 01 · Weight: 25%
Rate Differential
Compares current policy rates. A larger gap signals stronger carry advantage for the higher-rate currency.
Central BankRateDateResult
ECB (EUR)2.40%Jun 11, 2026In Line
Fed (USD)3.75%Jun 17, 2026In Line
Rate GapUSD +1.35%
Pillar Score: −2  ·  Running Total: −2
Pillar 02 · Weight: 25%
Central Bank Path
Where rates are going matters more than where they are. ECB just raised — hawkish. Fed is holding data-dependent.
BankMoveBias
ECB↑ Raised 2.15% → 2.40%Hawkish
Fed→ Hold at 3.75%Neutral
Pillar Score: +1  ·  Running Total: −1
Pillar 03 · Weight: 20%
Inflation Bias
Both currencies printed CPI exactly in line with forecasts. No edge for either side this cycle.
CCYReleaseActualForecastPriorResult
EURCPI May Final3.2%3.2%3.0%In Line
USDCPI May4.2%4.2%3.8%In Line
Pillar Score: 0  ·  Running Total: −1
Pillar 04 · Weight: 20%
Growth Bias
USD growth data is mixed this period. GDP, PMI, and Retail Sales beat, but the headline NFP missed hard — a notable soft patch in an otherwise firm picture.
IndicatorCCYActualForecastResult
GDP Q1 FinalUSD2.1%1.6%Beat
PMI Jun FlashUSD55.754.6Beat
Retail Sales MayUSD0.9%0.5%Beat
NFP JunUSD57K114KMiss
Pillar Score: −2  ·  Running Total: −3
Pillar 05 · Weight: 4%
Political Risk
Both regions carry political headwinds. EU fiscal fragmentation, US trade tariff uncertainty. Neither holds an advantage.
RegionRisk FactorSignal
EURItaly/France fiscal concernsHeadwind
USDTrade tariff uncertaintyHeadwind
Pillar Score: 0  ·  Running Total: −3
Pillar 06 · Weight: 3%
Risk Sentiment
Broadly risk-on environment. For EUR/USD specifically, neither currency is a pure safe haven — risk-on is neutral for this cross.
IndicatorReadingSignal
US PMI Jun55.7 — expansionRisk-On
CB Consumer Conf.93.1 vs 91.9FBeat
Pillar Score: 0  ·  Running Total: −3
Pillar 07 · Weight: 3%
Terms of Trade
USD trade balance and industrial production both beat forecast. Marginal USD edge but insufficient to move this cross further.
CCYIndicatorActualForecastResult
USDTrade Balance Mar−60.3B−61.0BBeat
USDInd. Production Apr+0.7%+0.3%Beat
Pillar Score: 0  ·  Running Total: −3
Analysis Complete · Live Data
EUR/USD Verdict
−3
MILDLY BEARISH EUR
Rate Differential−2
Central Bank Path+1
Inflation Bias0
Growth Bias−2
Political Risk0
Risk Sentiment0
Terms of Trade0
COMPOSITE−3
AI INTERPRETATION
USD holds macro dominance — rate advantage and firm growth, even as the headline NFP missed (57K vs 114K forecast). Unemployment fell to 4.2% and jobless claims stayed low, so the labor market isn't cracking. EUR is not fundamentally right here. Bias: short EUR on rallies, wait for technical confirmation.
Step 1 of 9

Two Tools · One Subscription

The Data Terminal —
220 data points.
Nothing hidden.

Every score the Macro Terminal produces is traceable back to real numbers. The Data Terminal puts the full economic dataset in front of you — 21 currencies, 11 indicators each, with Actual vs Forecast vs Prior for every release.

▸
220 Live Data Points
21 currencies × 11 indicators. Interest Rate, CPI, GDP, Unemployment, Retail Sales, PMI, Trade Balance, Current Account, Industrial Production, Business Confidence, Employment.
▸
Actual · Forecast · Prior
Every release shows all three values. See exactly whether the number beat, missed, or came in line — not just the headline figure everyone else is reacting to.
▸
The Source of Every Score
The beat/miss results you see here are the exact inputs the 7-pillar engine uses. No black box. You can always verify why a currency scored the way it did.
▸
Always Current
Data reflects the latest economic releases. When you open the terminal, the numbers are fresh — so your analysis is never based on stale information.
MELIORA TERMINAL · DATA TERMINAL LIVE
USD EUR GBP JPY AUD +15 more
Indicator Release Actual Forecast Prior Result Date
Interest Rate Fed Rate Decision Jun 3.75% 3.75% 3.75% In Line Jun 17
CPI (YoY) CPI May 4.2% 4.2% 3.8% In Line Jun 10
GDP GDP Q1 Final 2.1% 1.6% 0.5% Beat Jun 25
Unemployment Unemployment Rate Jun 4.2% 4.3% 4.3% Beat Jul 3
Retail Sales Retail Sales MoM May 0.9% 0.5% 0.4% Beat Jun 17
PMI S&P Global Mfg PMI Jun 55.7 54.6 55.1 Beat Jun 23
Trade Balance Trade Balance Mar −60.3B −61.0B −57.8B Beat May 5
Employment Nonfarm Payrolls Jun 57K 114K 129K Miss Jul 3
Bus. Confidence CB Consumer Conf. May 93.1 91.9 93.8 Beat May 27
Ind. Production Industrial Prod. MoM Apr 0.7% 0.3% −0.3% Beat May 15
Current Account N/A — — — N/A —
7 Beats · 3 In Line · 0 Misses USD MACRO STRENGTH: STRONG

Coverage

58 pairs.
Every angle covered.

21 currencies scored across majors, minors, and exotics — macro clarity on any pair you trade.

7 Major Pairs EUR/USD · GBP/USD · USD/JPY · AUD/USD · USD/CAD · USD/CHF · NZD/USD
21 Minor Pairs All cross combinations of the 7 major currencies — EUR/GBP, GBP/JPY, AUD/JPY and more
30+ Exotic Pairs SGD · CNH · NOK · SEK · DKK · HKD · MXN · ZAR · TRY · PLN · CZK · HUF · XAU · THB
USDEURGBP JPYAUDNZD CADCHFSGD CNHNOKSEK DKKHKDMXN ZARTRYPLN CZKHUFXAUTHB

Pricing

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Position Trader Plan
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  • AI interpretation — plain language, real drivers
  • COT positioning data — weekly CFTC signals
  • Daily data updates — always current
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