VIKTOR EPERJESY
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The chart shows how several brokers' EURUSD spreads looked at-around the NFP announcement, time is in GMT. The red line represents the most scrambled situation at 12:32, when aggregated spreads got the widest. The brokers are ordered by their 12:32 spreads, thus tightest brokers are on the left, least competitive brokers are on the right. Apparently, some brokers decided to sit on the bench until situation calmed down.
Limitations apply, however. Commissions are not taken into account so the chart does not reflect overall competitiveness of brokers, but rather an impression on how spread volatility unfolded and how particular brokers handle economic events. Also, a competitive quote doesn’t mean competitive fill price. Slippage due to low liquidity and/or latency is frequent especially around such events.
The next chart shows how EURSD spreads got somewhat wider right before the economic event, how they sky-rocketed right after the announcement and how they consolidated after a couple of minutes at a slightly higher level. The y axis shows the actual aggregated spread of 90+ brokers expressed in percentage of its 12:25 value. In plain English, the peak around 500% means that the monitored 90+ brokers’ spreads got 5x wider at the busiest time.
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Editors’ Picks
EUR/USD hovers around 1.0700, eyes on US first-quarter GDP data
EUR/USD hovers around the 1.0700 psychological level on Thursday during the early Thursday. The modest uptick of the major pair is supported by the softer US Dollar. Later in the day, Germany’s GfK Consumer Confidence Survey for April will be released.
GBP/USD snaps the two-day winning streak above 1.2450, eyes on US GDP data
The GBP/USD pair snaps the two-day winning streak near 1.2460 amid the modest rebound of the US Dollar on Thursday during the early Asian session. The release of the US Gross Domestic Product for the first quarter will take center stage on the day.
USD/JPY finds its highest bids since 1990, near 155.50
USD/JPY keeps breaking into its highest chart territory since June of 1990 early Thursday, testing 155.50 for the first time in 34 years as the Japanese Yen remains vulnerable, despite looming Japanese intervention risks. Focus shifts to Thursday's US GDP report and the BoJ decision on Friday.
Editors’ Picks
EUR/USD hovers around 1.0700, eyes on US first-quarter GDP data
EUR/USD hovers around the 1.0700 psychological level on Thursday during the early Thursday. The modest uptick of the major pair is supported by the softer US Dollar. Later in the day, Germany’s GfK Consumer Confidence Survey for April will be released.
USD/JPY finds its highest bids since 1990, near 155.50
USD/JPY keeps breaking into its highest chart territory since June of 1990 early Thursday, testing 155.50 for the first time in 34 years as the Japanese Yen remains vulnerable, despite looming Japanese intervention risks. Focus shifts to Thursday's US GDP report and the BoJ decision on Friday.
Gold price lacks firm intraday direction, holds steady above $2,300 ahead of US data
Gold price remains confined in a narrow band for the second straight day on Thursday. Reduced Fed rate cut bets and a positive risk tone cap the upside for the commodity. Traders now await key US macro data before positioning for the near-term trajectory.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
Meta Platforms Earnings: META sinks 10% on lower Q2 revenue guidance Premium
This must be "opposites" week. While Doppelganger Tesla rode horrible misses on Tuesday to a double-digit rally, Meta Platforms produced impressive beats above Wall Street consensus after the close on Wednesday, only to watch the share price collapse by nearly 10%.
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