It’s time for another edition of the Main Spike Controller. Here’s how news publications have influenced the spread levels during the last 24 hours.
Euro/Dollar’s long term average spread is point 22 pips and max separation has been 2.2 pips.
Last 24 hours have been bullish for this pair, it has gained point 81% or 91 pips to hit the high of 1 1332.
US FOMC Meeting Minutes sent the spreads higher yesterday at 6 PM GMT, but 2.2 pips is the biggest gap you should have seen.
Moving on to the Cable, long term average is point 96 pips and both of the sides separated by 6.3 pips during the last 4 hours.
Pound/Dollar has been on a sharp rise and the pair has gained almost 1 and a half percent or 194 pips.
UK retail sales report sent the pair and the spreads higher today at 8:30 in the morning, so let’s see what happened.
Both of the sides stayed separated for a while, but 6.3 pips is the line that shouldn’t have been crossed.
And last up is the Dollar/Yen, which has long term average and maximum spreads of point 43 and 4.8 pips respectively.
Daily volatility is 117 pips and it was posted as the rate declined by 1.16%.
Spreads were slightly elevated yesterday at 6 PM GMT as the US FOMC Meeting minutes were released, but anything far above the max of 4.8 pips shouldn’t be tolerated.
I’m Sam Meredith and that’s the situation so far. These stats are updated on an hourly basis, so check back.
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