Spread

NZD/USD

Hourly spread (pips)

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• In the recent market conditions, the average spread for NZD/USD is highest around New York close. This is similar to pre-COVID market conditions.
• For NZD/USD, we observe a flattening of the recent spread curve at around 16:00 GMT i.e. London fixing hour, with spread being more equally distributed across London trading hours during this recent period.
• Spread in NZD/USD increases sharply between 20:00 and 21:00 GMT (going into New York close) in the recent market conditions, relative to pre-COVID market conditions.