Week of 31 August to 4 September 2026·Published
Week in Brief
EUR/USD spreads widened from 0.782 to 0.873 pips average mid-week before easing to 0.841 on Friday, coinciding with the 04 Sep NFP surprise of 162K vs 56K forecast. GER40 spreads widened 36% at BlackBull Markets (5.5 to 7.5) around the same window. FXTM was cheapest broker on 15 of 45 key instrument-days, ahead of IG Group and ThinkMarkets at 10 each.
Spread Movements by Instrument
EUR/USD
widened- Week range
- 0.782 to 0.873 pips average across 9 to 10 brokers
- Cheapest
- FXTM at 0.01 pips, consistent all week
- Notable
- Average rose from 0.782 on 31 Aug to 0.873 on 02 to 03 Sep, then settled at 0.841 on 04 Sep, the day of the strong NFP print and broker count dropped to 9.
GBP/USD
tightened- Week range
- 1.026 to 1.063 pips average across 8 to 9 brokers
- Cheapest
- FXTM at 0.01 pips all week
- Notable
- Average held at 1.063 for two days, drifted to 1.062, then fell to 1.026 on 04 Sep as broker count dropped to 8, coinciding with NFP-driven volatility mentioned in headlines.
USD/JPY
stable- Week range
- 0.951 to 0.964 pips average across 8 brokers
- Cheapest
- FXTM at 0.01 pips all week
- Notable
- Average sat at 0.951 for four of five days, with a single-day bump to 0.964 on 03 Sep before returning to 0.951 on NFP day.
XAU/USD
tightened- Week range
- 0.268 to 0.363 USD average across 4 brokers
- Cheapest
- BlackBull Markets at 0.12 USD from 02 Sep onward
- Notable
- Average fell from 0.363 to 0.268 after 01 Sep and held there through NFP day, with only 4 brokers reporting so the move should be read with coverage caveats. A Saxo Bank gold quote near 34 USD in the source feed is a known unit or parse error and is excluded from these figures.
WTI/USD
widened- Week range
- 1.752 to 1.94 points average across 4 to 5 brokers
- Cheapest
- Swissquote at 0.052 to 0.062 points
- Notable
- Average climbed from 1.752 to a peak of 1.94 on 03 Sep, then eased to 1.863 on 04 Sep, with broker count dropping from 5 to 4 mid-week.
US500
tightened- Week range
- 0.675 to 0.738 points average across 4 brokers
- Cheapest
- IG Group at 0.4 points all week
- Notable
- Average spiked to 0.738 on 03 Sep, the widest Swissquote print of the week at 1.35, then dropped to 0.675 on 04 Sep, the week's low.
GER40
widened- Week range
- 3.743 to 5.077 points average across 3 brokers
- Cheapest
- IG Group at 1.4 points all week, unchanged
- Notable
- BlackBull Markets widened 36% from 5.5 to 7.5 points between 31 Aug and 02 Sep, pushing the average from 3.743 to a peak of 5.077 on 03 Sep. Only 3 brokers report this instrument, so the move is thin coverage.
NAS100
tightened- Week range
- 1.483 to 1.567 points average across 3 brokers
- Cheapest
- ThinkMarkets at 0.8 points all week, unchanged
- Notable
- Average fell to 1.483 on 04 Sep, the week's low, from 1.567 at the start. Only 3 brokers report this instrument.
BTC/USD
widened- Week range
- 30.403 to 55.93 price-points average across 2 to 3 brokers
- Cheapest
- ThinkMarkets, though its own value rose 111% from 15 to 31.6
- Notable
- Average spiked to 55.93 on 02 Sep with AvaTrade quoting 93.19, then fell back to 36.32 by 04 Sep. Coverage dropped to 2 brokers on 03 Sep, so swings are partly a coverage artifact.
Broker Spotlight
FXTM posted the tightest quotes across EUR/USD, GBP/USD and USD/JPY all week at 0.01 pips and was cheapest broker on 15 of 45 key instrument-days, the most of any broker. At the other end, XM was dearest on EUR/USD (2 pips), GBP/USD (2.4 pips), and USD/JPY (2.5 pips) every single day, and easyMarkets was dearest on WTI/USD (3 points) and XAU/USD (0.4 USD) all week.
Market Context
- Nonfarm Payrolls rose 162K in August 2026 versus a 56K forecast, released 04 Sep 2026 08:30 GMT, and coincided with EUR/USD average widening to 0.841 and GBP/USD narrowing sharply to 1.026 that same day.
To Watch Next Week
- ECB rate decision commentary referencing a September hike path, watch EUR/USD and EUR/JPY spreads for reaction.
- Gold headlines cite central bank buying support versus NFP-driven Dollar strength, watch XAU/USD given its thin 4-broker coverage.
- BTC/USD coverage dropped to 2 brokers mid-week, confirm data completeness before drawing conclusions on its spread spike.