Best Forex Pairs with Lowest Spreads Weekly Review – 13th May to 17th May 2024

• Major currency pairs exhibited varying spread performances, with EURUSD consistently at an ‘Average’ level of 2-3 points, AUDUSD tightening from ‘Average’ to ‘Good’ levels during the US session, and USDJPY improving from Asian to ‘Average’ levels across market events in the EU/US sessions.
• Gold (XAUUSD) maintained a ‘Good’ spread level consistently across all trading sessions, while US WTI Oil started at a ‘Good’ level during the Asian session and progressed to an ‘Excellent’ level during the EU and US sessions.
• The Dow Jones 30 and German 30 indices both began with ‘Average’ spread levels during the Asian session but tightened significantly to ‘Excellent’ levels during the EU and US sessions, reflecting increased trading activity and market engagement.

Major Currency Pairs - EURUSD, AUDUSD, GBPUSD and USDJPY  

(Note: The above chart excludes the spread data of the first two hour after market open and the last one hour before market close to minimise the impact of outliers during illiquid market sessions) 

Majors Currency Pairs  

The Major currency spreads were generally performing at a ‘Good’ to ’Average levels across four trading currency pairs during all sessions.

Specifically, AUDUSD spreads were at an ‘Average’ level during Asian, EU Sessions then tightened aggressively to a ‘Good’ level across several market events during the US Session. EURUSD spreads had been constantly ranging between 2-3 points, which was on an ‘Average’ level across all trading sessions. USDJPY spreads were at an ‘Improvement required’ level during Asian Session then tightened aggressively to a ‘Average’ level across several market events during the EU/US Sessions. As well as GBPUSD spreads were at an ‘Average’ level during Asian, EU Sessions then tightened aggressively to a 'Good' level across several market events during the US Session.

Gold and US WTI Oil  

(Note: The above chart excludes the spread data of the first one hour after market open and the last one hour before market close to minimise the impact of outliers during illiquid market sessions)  

For the spread of XAUUSD, From the chart above it illustrates that the spreads were at an ‘Good’ level across all trading sessions. As for USWTI, its spread began at an ‘Good’ level during the Asian session and then progressed to an 'Excellent' level during the EU and US sessions.

Dow Jones 30 and German 30 Indices  

(Note: The above chart excludes the spread data of the first one hour after market open and the last one hour before market close to minimise the impact of outliers during illiquid market sessions) 

The DJ30 spread experienced an ‘Average’ level spread during the Asian session due to reduced trading activity and a subdued market condition. However, it subsequently underwent significant tightening, reaching an 'Excellent' level (100-200) during the EU/US sessions.

In contrast, the GER30 initially experienced an 'Average' level spread during the Asian session due to reduced trading activity and a subdued market condition. However, it subsequently underwent significant tightening, reaching an 'Excellent' level (100-200) during the EU and US sessions.

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