The Fed rate hike shook up the currency markets yesterday, so make sure your broker has not charged you more than their fair share. Now, the average and peak long-term spreads for the Euro/Dollar have been point 29 and 5 pips, respectively. The pair started moving South yesterday afternoon, losing a total of 1.24% or 140 pips from its daily peak at 1 1296. Couple of US news releases were out at 12:30 PM yesterday, and spreads peaked at 5 pips just as the data came out. The Cable’s long-term average reaches point 77 pips, and the daily max stands at exactly 10 pips. The Fed statement sent the pair lower, and the total loss reaches slightly more than 1% or 129 pips. And, in fact, the Fed announcement, which came out at 6 PM, was also the time of the peak spread. Both sides separated for a number of ticks, but 10 pips is the most you should have seen. And Dollar/Yen’s spreads have averaged at point 38 pips over the last 24 hours, peaking at 4 pips. This pair actually declined ahead of the Fed, losing 1.39% or 153 pips, but it has since recovered some ground. Spreads peaked just ahead of the rate hike, but 4 pips is as high as they went. I’m Jack Everitt and this was the Main Spike Controller for Thursday. Check back in for the hourly updates if you have any doubts about your trades.
The Fed rate hike shook up the currency markets yesterday, so make sure your broker has not charged you more than their fair share.
Now, the average and peak long-term spreads for the Euro/Dollar have been point 29 and 5 pips, respectively.
The pair started moving South yesterday afternoon, losing a total of 1.24% or 140 pips from its daily peak at 1 1296.
Couple of US news releases were out at 12:30 PM yesterday, and spreads peaked at 5 pips just as the data came out.
The Cable’s long-term average reaches point 77 pips, and the daily max stands at exactly 10 pips.
The Fed statement sent the pair lower, and the total loss reaches slightly more than 1% or 129 pips.
And, in fact, the Fed announcement, which came out at 6 PM, was also the time of the peak spread.
Both sides separated for a number of ticks, but 10 pips is the most you should have seen.
And Dollar/Yen’s spreads have averaged at point 38 pips over the last 24 hours, peaking at 4 pips.
This pair actually declined ahead of the Fed, losing 1.39% or 153 pips, but it has since recovered some ground.
Spreads peaked just ahead of the rate hike, but 4 pips is as high as they went.
I’m Jack Everitt and this was the Main Spike Controller for Thursday. Check back in for the hourly updates if you have any doubts about your trades.
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