Week of 20 to 24 July 2026·Published
Week in Brief
EUR/USD spreads held at 0.843 pips average all week. XAU/USD held at 0.24 USD across the covered brokers.
Spread Movements by Instrument
EUR/USD
stable- Week range
- 0.843 pips average across brokers, unchanged all week
- Cheapest
- Pepperstone at 0.1 pips, consistent all week
- Notable
- Average held at 0.843 all week, with Pepperstone holding 0.1 pips every day while XM stayed at 2 pips, the widest gap in the pair.
XAU/USD
stable- Week range
- 0.24 USD average across brokers, unchanged all week
- Cheapest
- BlackBull Markets at 0.12 USD, consistent all week
- Notable
- Average held at 0.24 all week on 3 brokers.
GBP/USD
stable- Week range
- 1.1 pips average across brokers, unchanged all week
- Cheapest
- BlackBull Markets at 0.1 pips, consistent all week
- Notable
- Average held at 1.1 pips all week, with XM the consistent widest at 2.4 pips.
USD/JPY
stable- Week range
- 1.029 to 1.043 pips average across brokers
- Cheapest
- BlackBull Markets at 0.1 to 0.2 pips
- Notable
- BlackBull Markets doubled its own quote from 0.1 to 0.2 pips on Wednesday and Friday, a 100% move flagged as a mover, though the pair average stayed within a narrow 1.029 to 1.043 band.
WTI/USD
tightened- Week range
- 3.1 to 7.1 points average across brokers
- Cheapest
- ThinkMarkets at 1.5 to 1.9 points (Tuesday, Thursday, Friday)
- Notable
- Broker count swung between 2 and 5 across the week, so the average moved between 3.1 and 7.1 points with coverage rather than as a clean trend.
US500
tightened- Week range
- 0.533 to 0.7 points average across brokers
- Cheapest
- IG Group at 0.4 points, consistent all week
- Notable
- Average eased from 0.7 to 0.533 on Friday as broker count dropped from 4 to 3, with IG Group the cheapest every day.
NAS100
tightened- Week range
- 1.55 to 1.95 points average across brokers
- Cheapest
- ThinkMarkets at 0.8 to 1.3 points
- Notable
- Only 2 to 3 brokers reported daily, and BlackBull Markets widened from 1.3 to 1.8 points, a 38% move, on a thin instrument where averages swing with coverage.
BTC/USD
stable- Week range
- 20 to 22.13 price-points average across brokers
- Cheapest
- Pepperstone and ThinkMarkets at 15
- Notable
- Broker count ranged from 2 to 4 daily, with AvaTrade consistently the dearest near 26, and the mid-week peak of 22.13 coincides with only 3 brokers reporting.
GER40
stable- Week range
- 3.077 points average across brokers
- Cheapest
- IG Group at 1.4 points, consistent all week
- Notable
- Average held flat at 3.077 points all five days with only 3 brokers reporting, IG Group cheapest and easyMarkets dearest at 4.33 every day.
Broker Spotlight
Pepperstone and BlackBull Markets were the tightest brokers this week, with Pepperstone at 0.1 pips on EUR/USD all five days and BlackBull Markets at 0.1 pips on GBP/USD and USD/JPY. BlackBull Markets led the cheapest-broker tally with 19 of 45 key instrument-days. The widest outlier remains XM at 2 to 2.5 pips on EUR/USD, GBP/USD and USD/JPY.
Market Context
- Federal Reserve seen holding rates while watching inflation risks per Commerzbank, alongside ING noting Fed expectations keep US Dollar upside in focus, a period during which USD/JPY saw broker-level spread movement.
To Watch Next Week
- Gold's sharp drop and steadying per FXStreet warrants tracking XAU/USD.