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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 sticks to positive bias above 1.1800 as trade jitters undermine USD
The EUR/USD pair builds on the previous day's modest gains and attracts some buyers for the second straight day on Thursday amid a softer US Dollar. Spot prices, however, lack bullish conviction and trade around the 1.1815-1.1820 area during the Asian session, up 0.10% for the day.
GBP/USD extends recovery to near 20-day EMA as US Dollar weakens
The Pound Sterling holds onto weekly gains around 1.3565 against the US Dollar during the Asian trading session on Thursday. The GBP/USD pair trades firmly as the US Dollar remains under pressure due to uncertainty surrounding the United States trade policy outlook.
USD/JPY tumbles below 156.00 on hawkish BoE-speak, risk-off mood
USD/JPY holds lower ground below 156.00 in the Asian session on Thursday, deep in the red amid hawkish BoE commentary, looming intervention fears and risk-off mood, which lend support to the Japanese Yen. The US Dollar remains on the back foot amid concerns about the fallout from Trump's trade policies, adding to the pair's downside.
Editors’ Picks
USD/JPY tumbles below 156.00 on hawkish BoE-speak, risk-off mood
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AUD/USD grinds higher toward 0.7150 on weaker USD
AUD/USD picks up bids and grinds higher toward 0.7150 in the Asian session on Thursday. The pair eyes a three-year peak amid bets for another RBA rate hike in 2026, bolstered by the latest Australian consumer inflation figures. Moreover, a softer US Dollar acts as a tailwind for the Aussie, though trade uncertainties seem to limit the Aussie's upside.
Gold struggle with $5,200 extends ahead of more US-Iran talks
Gold is replicating the recovery moves seen in Wednesday’s Asian trading early Thursday, as buyers continue to flirt with the $5,200 level. Sustained US Dollar weakness and looming US-Iran talks aid the bright metal’s rebound.
Top Crypto Gainers: Polkadot, Near Protocol, Uniswap lead market rebound
Altcoins, such as Polkadot, Near Protocol, and Uniswap, are leading gains over the last 24 hours as Bitcoin jumped 6% on Wednesday. The altcoins are holding steady at press time on Thursday following a rebound the previous day, testing the waters around their 50-day Exponential Moving Average.
Nvidia delivers another monster earnings report, and forecasts big things to come
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