Week of 31 August to 4 September 2026·Published
Week in Brief
EUR/USD spreads held at 0.801 pips average all week, through 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 and ThinkMarkets were each cheapest broker on 15 of 45 key instrument-days, ahead of IG Group at 10.
Spread Movements by Instrument
EUR/USD
stable- Week range
- 0.801 pips average across 8 brokers, unchanged all week
- Cheapest
- FXTM at 0.01 pips, consistent all week
- Notable
- Average held at 0.801 on all five days, including 04 Sep, the day of the strong NFP print.
GBP/USD
stable- Week range
- 1.026 pips average across 8 brokers, unchanged all week
- Cheapest
- FXTM at 0.01 pips all week
- Notable
- Average held at 1.026 on all five days, NFP day included.
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 0.317 USD average across 3 to 4 brokers
- Cheapest
- BlackBull Markets at 0.12 USD from 02 Sep onward
- Notable
- Average fell from 0.317 to 0.268 after 01 Sep, when BlackBull Markets' 0.12 USD quote joined the sample, and held there through NFP day, so read the move with coverage caveats.
WTI/USD
tightened- Week range
- 3.15 to 3.475 points average across 4 brokers
- Cheapest
- ThinkMarkets at 1.5 to 1.9 points
- Notable
- Average held near 3.475 before easing to 3.15 on 04 Sep, as ThinkMarkets and Swissquote both trimmed their quotes that day.
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, level with ThinkMarkets for 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, Swissquote was dearest on WTI/USD (5.2 to 6.2 points), and easyMarkets on 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 and GBP/USD averages holding at 0.801 and 1.026 pips 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.