Forex, Gold, Oil and Indices Spread Review – 2nd October to 6th October 2023

• The Major currency spreads were 'Excellent' during EU and US sessions and 'Good' to 'Excellent' during Asian sessions.
• The gold spread consistently excelled, maintaining an 'Excellent' level.
• DJ30 consistently maintained an 'Excellent' level during all trading sessions, with an average spread of 150-200 points in the Asian and EU sessions.

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 ‘Excellent’ level during EU and US session, and ‘Good’ or ‘Excellent’ during Asian session.

The EURUSD and AUDUSD spreads consistently remain in the 'Excellent' range of 0-1 point during the US trading session, while they hold steady within the 'Good' range of 1-2 points during other trading sessions.

Conversely, the spreads for GBPUSD and USDJPY have shown improvement compared to the previous week during the Asian and European trading sessions, also staying within the 'Good' range. However, during the US trading session, spreads have further improved compared to last week and consistently fall into the 'Excellent' category.

In reference to the spread 'spike' observed at 15:00 (GMT+3), it was primarily driven by the US Non-Farm employment change and unemployment rate news release on Thursday, at this point in time, the overall market spreads have been affected, but they quickly regained calmness and started trending in a positive direction. Meanwhile, it is worth noting that at 17:00 on the 3rd, there was a significant spread widening for the Japanese Yen, and the Yen rapidly dropped by nearly 2% in a very short period. The market generally anticipates that this decline is related to intervention by the Bank of Japan.

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)

The Gold spread consistently maintained an 'Excellent' level, with an average spread of 7-10 cents during the Asian session and 5-7 cents during the EU and US sessions, which ranks it at the industry's top level.

As for USWTI, its spread was at a 'Good' level during the Asian session and then improved 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 consistently maintained an 'Excellent' level throughout all trading sessions, with an average spread of 150-200 points during the Asian and EU sessions, and it reduced to 100-150 points during the US sessions.

In contrast, the GER30 initially had an 'Average' level spread during the Asian session due to lower trading activity and a quiet market condition. However, it saw a significant tightening, reaching an 'Excellent' level during the EU and US sessions.

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