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 bounces off lows near 1.1600
EUR/USD no gathers some steam and bounces off daily lows near the 1.1600 region. The pair’s daily pullback comes on the back of the firmer tone in the US Dollar amid rising Treasury yields and better-then-expected US data releases from the job market.
GBP/USD remains offered below 1.3300
GBP/USD is coming under renewed pressure, surrendering its earlier gains and retreating toward the area below the key 1.3300 support, always on the back of the bid bias in the Greenback and despite earlier hawkish comments from BoE poliymakers.
USD/JPY remains capped by 156.00 amid renewed USD selling
USD/JPY is consolidating its uptick to near 156.00 in the Asian session on Tuesday. The US Dollar faces renewed selling pressure amid a cautious mood and dovish Fed expectations. Meanwhile, traders assess the potential impact of a strong earthquake in Japan. The immediate focus now is on BoJ Governor Ueda's speech.
Editors’ Picks
EUR/USD bounces off lows near 1.1600
EUR/USD no gathers some steam and bounces off daily lows near the 1.1600 region. The pair’s daily pullback comes on the back of the firmer tone in the US Dollar amid rising Treasury yields and better-then-expected US data releases from the job market.
GBP/USD remains offered below 1.3300
GBP/USD is coming under renewed pressure, surrendering its earlier gains and retreating toward the area below the key 1.3300 support, always on the back of the bid bias in the Greenback and despite earlier hawkish comments from BoE poliymakers.
Gold keeps the bid tone near $4,200
Gold is still holding a positive tone around the $4,200 zone per troy ounce on Tuesday, though it’s starting to lose a bit of steam as the US Dollar finds support from stronger-than-expected jobs data. Even so, markets remain confident the Fed will move ahead with a rate cut on Wednesday, which ultimately lends support to the yellow metal.
Crypto Today: Bitcoin, Ethereum, XRP trade under pressure amid mixed technical signals
Bitcoin is trading above $90,000 at the time of writing on Tuesday amid sticky risk-off sentiment in the broader crypto market. Altcoins, including Ethereum and Ripple, are paring losses, holding above key support levels.
Global economic outlook 2026: Financial system risk, trade, public debt
The global and European economies have been resilient in recent years even accounting for the modest global slowdown of 2025. But risks for the recovery are rising, underscoring a negative medium-run global macro and credit outlook.
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