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 holds steady below 1.1800
EUR/USD moves sideways in a narrow channel below 1.1800 as the market volatility remains low ahead of the New Year holiday. On Tuesday, investors will pay close attention to the minutes of the Federal Reserve's December policy meeting.
GBP/USD retreats below 1.3500 as trading conditions remain thin
GBP/USD corrects lower after posting strong gains in the previous week and trades below 1.3500 on Monday. With the action in financial markets turning subdued following the Christmas holiday, however, the pair's losses remain limited.
USD/JPY steadies above 156.00 following BoJ’s Summary of Opinions
The US Dollar is ticking lower against a moderately firmer Japanese Yen on Monday, yet with downside attempts contained above 156.00. The positive impact from the hawkishly-tilted Summary of Opinions of the Bank of Japan’s (BoJ) Monetary Policy Meeting seen during Monday’s Asian session has waned during London trading.
Editors’ Picks
EUR/USD holds steady below 1.1800
EUR/USD moves sideways in a narrow channel below 1.1800 as the market volatility remains low ahead of the New Year holiday. On Tuesday, investors will pay close attention to the minutes of the Federal Reserve's December policy meeting.
GBP/USD retreats below 1.3500 as trading conditions remain thin
GBP/USD corrects lower after posting strong gains in the previous week and trades below 1.3500 on Monday. With the action in financial markets turning subdued following the Christmas holiday, however, the pair's losses remain limited.
Gold holds above $4,300 after profit taking kicked in
Gold retreats sharply from the record-peak it set at $4,550 and trades below $4,400, losing more than 3% on the day. Growing optimism about a Ukraine-Russia peace agreement and profit-taking ahead of the New Year holiday seem to be causing XAU/USD to stay under heavy bearish pressure.
Bitcoin, Ethereum, and XRP bulls regain strength
Bitcoin, Ethereum, and Ripple record roughly 3% gains on Monday, regaining strength mid-holiday season. Despite thin liquidity in the holiday season, BTC and major altcoins are regaining strength as US President Donald Trump pushes peace talks between Russia and Ukraine. The technical outlook for Bitcoin, Ethereum, and Ripple gradually shifts bullish as selling pressure wanes.
Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026
Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.
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