Measured base rates, updated with evidence.

Spread climate: typical cost by hour

The typical bid/ask spread for each pair, broken out by hour of day (Eastern Time) — a cost map for when a session is cheap to trade and when it isn't.

AUDCAD AUDCHF AUDJPY AUDNZD AUDSGD AUDUSD CADCHF CADJPY CHFJPY EURAUD EURCAD EURCHF EURGBP EURJPY EURNZD EURSGD EURUSD GBPAUD GBPCAD GBPCHF GBPJPY GBPNZD GBPUSD NZDCAD NZDCHF NZDJPY NZDUSD SGDJPY USDCAD USDCHF USDJPY

AUDCAD

AUDCAD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.93	1.00	15
1:00	0.87	1.00	15
2:00	0.73	0.50	15
3:00	0.70	0.50	15
4:00	0.60	0.50	15
5:00	0.63	0.50	15
6:00	0.77	1.00	15
7:00	0.67	0.50	15
8:00	0.60	0.50	15
9:00	0.97	0.50	15
10:00	0.53	0.50	15
11:00	0.53	0.50	15
12:00	0.53	0.50	15
13:00	1.07	0.50	15
14:00	0.53	0.50	15
15:00	0.63	0.50	15
16:00	22.33	7.50	15
17:00	7.77	8.00	15
18:00	1.33	1.00	15
19:00	0.97	1.00	15
20:00	0.80	1.00	15
21:00	0.80	1.00	15
22:00	0.83	1.00	15
23:00	0.93	1.00	15

AUDCHF

AUDCHF — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.47	0.50	15
1:00	0.57	0.50	15
2:00	0.43	0.50	15
3:00	0.40	0.50	15
4:00	0.47	0.50	15
5:00	0.43	0.50	15
6:00	0.40	0.50	15
7:00	0.47	0.50	15
8:00	0.43	0.50	15
9:00	0.90	0.50	15
10:00	0.40	0.50	15
11:00	0.40	0.50	15
12:00	0.30	0.50	15
13:00	0.77	0.50	15
14:00	0.37	0.50	15
15:00	0.47	0.50	15
16:00	9.53	8.00	15
17:00	7.47	7.00	15
18:00	1.03	1.00	15
19:00	0.70	0.50	15
20:00	0.57	0.50	15
21:00	0.67	0.50	15
22:00	0.40	0.50	15
23:00	0.40	0.50	15

AUDJPY

AUDJPY — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.76	0.70	15
1:00	0.68	0.70	15
2:00	0.63	0.60	15
3:00	0.65	0.70	15
4:00	0.77	0.60	15
5:00	0.62	0.60	15
6:00	0.68	0.60	15
7:00	0.61	0.60	15
8:00	0.55	0.50	15
9:00	1.37	1.00	15
10:00	0.51	0.50	15
11:00	0.57	0.50	15
12:00	0.65	0.60	15
13:00	0.96	0.70	15
14:00	0.60	0.60	15
15:00	0.73	0.70	15
16:00	5.73	4.20	15
17:00	9.11	7.80	15
18:00	1.14	1.10	15
19:00	0.85	0.80	15
20:00	0.79	0.80	15
21:00	0.76	0.80	15
22:00	0.73	0.70	15
23:00	0.75	0.80	15

AUDNZD

AUDNZD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.77	1.00	15
1:00	0.97	1.00	15
2:00	0.90	1.00	15
3:00	0.93	1.00	15
4:00	0.80	1.00	15
5:00	0.87	1.00	15
6:00	0.83	1.00	15
7:00	0.83	1.00	15
8:00	0.70	0.50	15
9:00	1.67	1.00	15
10:00	0.50	0.50	15
11:00	0.77	1.00	15
12:00	0.73	0.50	15
13:00	1.50	1.00	15
14:00	0.90	1.00	15
15:00	0.93	1.00	15
16:00	18.53	7.50	15
17:00	10.87	10.00	15
18:00	1.30	1.00	15
19:00	0.83	1.00	15
20:00	0.80	1.00	15
21:00	0.93	1.00	15
22:00	0.87	1.00	15
23:00	0.90	1.00	15

AUDSGD

AUDSGD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	1.00	1.00	15
1:00	1.07	1.00	15
2:00	1.00	1.00	15
3:00	0.97	1.00	15
4:00	1.13	1.00	15
5:00	1.03	1.00	15
6:00	1.00	1.00	15
7:00	0.93	1.00	15
8:00	1.10	1.00	15
9:00	1.97	1.00	15
10:00	0.83	1.00	15
11:00	1.00	1.00	15
12:00	0.97	1.00	15
13:00	1.63	1.00	15
14:00	0.93	1.00	15
15:00	1.07	1.00	15
16:00	15.57	13.50	15
17:00	12.37	10.50	15
18:00	2.00	2.00	15
19:00	1.40	1.50	15
20:00	1.07	1.00	15
21:00	0.97	1.00	15
22:00	1.00	1.00	15
23:00	0.87	1.00	15

AUDUSD

AUDUSD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.23	0.00	15
1:00	0.27	0.50	15
2:00	0.13	0.00	15
3:00	0.20	0.00	15
4:00	0.33	0.50	15
5:00	0.23	0.00	15
6:00	0.33	0.50	15
7:00	0.17	0.00	15
8:00	0.17	0.00	15
9:00	0.33	0.50	15
10:00	0.20	0.00	15
11:00	0.23	0.00	15
12:00	0.20	0.00	15
13:00	0.13	0.00	15
14:00	0.30	0.50	15
15:00	0.30	0.50	15
16:00	4.27	3.00	15
17:00	3.53	3.50	15
18:00	0.40	0.50	15
19:00	0.20	0.00	15
20:00	0.30	0.50	15
21:00	0.23	0.00	15
22:00	0.23	0.00	15
23:00	0.13	0.00	15

CADCHF

CADCHF — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.50	0.50	15
1:00	0.47	0.50	15
2:00	0.47	0.50	15
3:00	0.40	0.50	15
4:00	0.43	0.50	15
5:00	0.33	0.50	15
6:00	0.33	0.50	15
7:00	0.40	0.50	15
8:00	0.40	0.50	15
9:00	0.80	0.50	15
10:00	0.33	0.50	15
11:00	0.40	0.50	15
12:00	0.37	0.50	15
13:00	0.60	0.50	15
14:00	0.33	0.50	15
15:00	0.30	0.50	15
16:00	9.07	7.00	15
17:00	7.40	6.50	15
18:00	0.80	1.00	15
19:00	0.70	0.50	15
20:00	0.47	0.50	15
21:00	0.47	0.50	15
22:00	0.47	0.50	15
23:00	0.43	0.50	15

CADJPY

CADJPY — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.60	0.60	15
1:00	0.55	0.50	15
2:00	0.66	0.70	15
3:00	0.61	0.60	15
4:00	0.74	0.60	15
5:00	0.58	0.60	15
6:00	0.63	0.60	15
7:00	0.63	0.70	15
8:00	0.61	0.60	15
9:00	1.05	0.60	15
10:00	0.49	0.50	15
11:00	0.51	0.50	15
12:00	0.51	0.50	15
13:00	0.86	0.50	15
14:00	0.51	0.50	15
15:00	0.53	0.50	15
16:00	8.79	2.90	15
17:00	7.37	6.20	15
18:00	1.18	1.10	15
19:00	0.71	0.70	15
20:00	0.70	0.60	15
21:00	0.63	0.60	15
22:00	0.61	0.60	15
23:00	0.59	0.50	15

CHFJPY

CHFJPY — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	1.53	1.60	15
1:00	1.65	1.70	15
2:00	1.44	1.50	15
3:00	1.43	1.50	15
4:00	1.67	1.40	15
5:00	1.48	1.50	15
6:00	1.32	1.30	15
7:00	1.45	1.40	15
8:00	1.59	1.60	15
9:00	3.86	1.70	15
10:00	1.42	1.30	15
11:00	1.37	1.40	15
12:00	1.31	1.40	15
13:00	2.47	1.30	15
14:00	1.52	1.50	15
15:00	1.43	1.50	15
16:00	26.05	23.70	15
17:00	24.66	23.30	15
18:00	2.89	2.80	15
19:00	2.04	2.10	15
20:00	1.75	1.60	15
21:00	1.64	1.70	15
22:00	1.58	1.70	15
23:00	1.52	1.60	15

EURAUD

EURAUD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.90	1.00	15
1:00	1.10	1.00	15
2:00	0.90	1.00	15
3:00	0.97	1.00	15
4:00	1.00	1.00	15
5:00	0.87	1.00	15
6:00	0.77	1.00	15
7:00	0.67	0.50	15
8:00	0.93	1.00	15
9:00	1.43	1.00	15
10:00	0.63	0.50	15
11:00	0.80	1.00	15
12:00	0.87	1.00	15
13:00	1.13	0.50	15
14:00	0.83	1.00	15
15:00	1.03	1.00	15
16:00	13.10	8.00	15
17:00	10.57	11.50	15
18:00	1.40	1.50	15
19:00	1.03	1.00	15
20:00	0.93	1.00	15
21:00	0.97	1.00	15
22:00	0.93	1.00	15
23:00	0.93	1.00	15

EURCAD

EURCAD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.77	1.00	15
1:00	0.90	1.00	15
2:00	0.80	1.00	15
3:00	0.87	1.00	15
4:00	0.87	1.00	15
5:00	0.87	1.00	15
6:00	0.80	1.00	15
7:00	0.80	1.00	15
8:00	0.77	0.50	15
9:00	1.00	0.50	15
10:00	0.73	0.50	15
11:00	0.63	0.50	15
12:00	0.70	0.50	15
13:00	1.30	0.50	15
14:00	0.53	0.50	15
15:00	0.70	0.50	15
16:00	12.20	6.50	15
17:00	10.80	10.00	15
18:00	1.43	1.50	15
19:00	0.93	1.00	15
20:00	0.87	1.00	15
21:00	0.87	1.00	15
22:00	0.97	1.00	15
23:00	0.87	1.00	15

EURCHF

EURCHF — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.50	0.50	15
1:00	0.63	0.50	15
2:00	0.53	0.50	15
3:00	0.47	0.50	15
4:00	0.60	0.50	15
5:00	0.50	0.50	15
6:00	0.40	0.50	15
7:00	0.43	0.50	15
8:00	0.40	0.50	15
9:00	0.57	0.50	15
10:00	0.33	0.50	15
11:00	0.33	0.50	15
12:00	0.27	0.50	15
13:00	0.50	0.50	15
14:00	0.33	0.50	15
15:00	0.30	0.50	15
16:00	5.83	2.50	15
17:00	6.33	5.00	15
18:00	0.80	1.00	15
19:00	0.50	0.50	15
20:00	0.40	0.50	15
21:00	0.43	0.50	15
22:00	0.33	0.50	15
23:00	0.57	0.50	15

EURGBP

EURGBP — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.33	0.50	15
1:00	0.60	0.50	15
2:00	0.27	0.50	15
3:00	0.17	0.00	15
4:00	0.30	0.50	15
5:00	0.20	0.00	15
6:00	0.43	0.50	15
7:00	0.27	0.50	15
8:00	0.23	0.00	15
9:00	0.37	0.50	15
10:00	0.17	0.00	15
11:00	0.27	0.50	15
12:00	0.17	0.00	15
13:00	0.53	0.50	15
14:00	0.27	0.50	15
15:00	0.27	0.50	15
16:00	5.27	2.00	15
17:00	5.57	5.00	15
18:00	0.63	0.50	15
19:00	0.40	0.50	15
20:00	0.33	0.50	15
21:00	0.30	0.50	15
22:00	0.20	0.00	15
23:00	0.30	0.50	15

EURJPY

EURJPY — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.78	0.70	15
1:00	0.71	0.70	15
2:00	0.64	0.60	15
3:00	0.85	0.80	15
4:00	1.13	0.70	15
5:00	0.73	0.70	15
6:00	0.58	0.60	15
7:00	0.70	0.60	15
8:00	0.74	0.80	15
9:00	0.85	0.60	15
10:00	0.53	0.50	15
11:00	0.69	0.60	15
12:00	0.67	0.70	15
13:00	0.95	0.70	15
14:00	0.74	0.80	15
15:00	0.63	0.60	15
16:00	11.77	10.20	15
17:00	8.04	6.50	15
18:00	1.01	0.90	15
19:00	0.99	1.00	15
20:00	0.84	0.80	15
21:00	0.87	0.80	15
22:00	0.81	0.80	15
23:00	0.79	0.80	15

EURNZD

EURNZD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	1.67	1.50	15
1:00	1.63	1.50	15
2:00	1.53	1.50	15
3:00	1.80	2.00	15
4:00	1.90	1.50	15
5:00	1.70	1.50	15
6:00	1.47	1.50	15
7:00	1.43	1.50	15
8:00	1.57	1.50	15
9:00	3.13	2.00	15
10:00	1.53	1.50	15
11:00	1.40	1.50	15
12:00	1.60	1.50	15
13:00	3.00	1.50	15
14:00	2.17	2.00	15
15:00	1.93	2.00	15
16:00	43.77	12.50	15
17:00	28.53	27.50	15
18:00	3.37	3.50	15
19:00	2.53	2.50	15
20:00	1.60	1.50	15
21:00	1.87	2.00	15
22:00	1.80	2.00	15
23:00	1.87	1.50	15

EURSGD

EURSGD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	1.27	1.00	15
1:00	1.27	1.50	15
2:00	0.83	1.00	15
3:00	0.93	0.50	15
4:00	0.97	1.00	15
5:00	0.70	0.50	15
6:00	0.87	1.00	15
7:00	0.90	1.00	15
8:00	0.83	1.00	15
9:00	1.77	1.50	15
10:00	1.07	1.00	15
11:00	1.03	1.00	15
12:00	1.17	1.00	15
13:00	1.63	1.00	15
14:00	1.27	1.50	15
15:00	1.07	1.00	15
16:00	37.77	23.50	15
17:00	18.43	16.50	15
18:00	3.00	3.00	15
19:00	1.80	2.00	15
20:00	1.20	1.00	15
21:00	1.27	1.50	15
22:00	1.27	1.50	15
23:00	1.30	1.50	15

EURUSD

EURUSD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.23	0.00	15
1:00	0.23	0.00	15
2:00	0.27	0.50	15
3:00	0.13	0.00	15
4:00	0.20	0.00	15
5:00	0.17	0.00	15
6:00	0.17	0.00	15
7:00	0.13	0.00	15
8:00	0.13	0.00	15
9:00	0.33	0.50	15
10:00	0.10	0.00	15
11:00	0.27	0.50	15
12:00	0.17	0.00	15
13:00	0.10	0.00	15
14:00	0.17	0.00	15
15:00	0.20	0.00	15
16:00	4.13	3.50	15
17:00	3.27	3.00	15
18:00	0.27	0.50	15
19:00	0.20	0.00	15
20:00	0.17	0.00	15
21:00	0.13	0.00	15
22:00	0.20	0.00	15
23:00	0.13	0.00	15

GBPAUD

GBPAUD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	1.37	1.50	15
1:00	2.17	1.50	15
2:00	1.17	1.00	15
3:00	1.40	1.50	15
4:00	1.47	1.50	15
5:00	1.30	1.00	15
6:00	1.27	1.00	15
7:00	1.23	1.00	15
8:00	1.30	1.00	15
9:00	1.97	1.50	15
10:00	1.10	1.00	15
11:00	1.00	1.00	15
12:00	1.23	1.50	15
13:00	2.37	1.00	15
14:00	1.30	1.50	15
15:00	1.43	1.50	15
16:00	17.03	9.00	15
17:00	18.87	16.50	15
18:00	3.07	3.00	15
19:00	1.93	2.00	15
20:00	1.47	1.50	15
21:00	1.53	1.50	15
22:00	1.47	1.50	15
23:00	1.43	1.50	15

GBPCAD

GBPCAD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	1.23	1.00	15
1:00	2.07	1.00	15
2:00	0.93	1.00	15
3:00	1.10	1.00	15
4:00	1.10	1.00	15
5:00	0.93	1.00	15
6:00	1.23	1.00	15
7:00	1.07	1.00	15
8:00	1.00	1.00	15
9:00	1.93	1.50	15
10:00	0.90	1.00	15
11:00	0.87	1.00	15
12:00	0.90	1.00	15
13:00	1.87	1.00	15
14:00	0.90	1.00	15
15:00	1.00	1.00	15
16:00	15.70	5.00	15
17:00	17.33	15.00	15
18:00	2.53	2.50	15
19:00	1.50	1.50	15
20:00	1.47	1.50	15
21:00	1.10	1.00	15
22:00	1.27	1.00	15
23:00	1.20	1.00	15

GBPCHF

GBPCHF — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	1.03	1.00	15
1:00	1.53	1.00	15
2:00	0.77	1.00	15
3:00	0.80	1.00	15
4:00	0.77	0.50	15
5:00	0.70	0.50	15
6:00	0.83	0.50	15
7:00	0.83	1.00	15
8:00	0.77	1.00	15
9:00	1.67	1.00	15
10:00	0.63	0.50	15
11:00	0.80	1.00	15
12:00	0.63	0.50	15
13:00	1.43	0.50	15
14:00	0.70	0.50	15
15:00	0.67	0.50	15
16:00	12.37	12.00	15
17:00	13.57	11.50	15
18:00	1.80	2.00	15
19:00	1.37	1.50	15
20:00	1.03	1.00	15
21:00	0.93	1.00	15
22:00	1.07	1.00	15
23:00	0.97	1.00	15

GBPJPY

GBPJPY — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	1.28	1.20	15
1:00	2.16	1.30	15
2:00	1.04	1.00	15
3:00	1.27	1.30	15
4:00	1.28	1.10	15
5:00	1.11	1.00	15
6:00	1.37	1.10	15
7:00	1.03	1.00	15
8:00	1.11	1.10	15
9:00	2.66	1.20	15
10:00	0.93	0.90	15
11:00	0.95	0.80	15
12:00	1.05	1.10	15
13:00	2.09	1.10	15
14:00	1.18	1.10	15
15:00	1.13	1.00	15
16:00	9.52	3.60	15
17:00	18.13	15.50	15
18:00	2.01	1.90	15
19:00	1.45	1.40	15
20:00	1.34	1.20	15
21:00	1.32	1.40	15
22:00	1.24	1.20	15
23:00	1.22	1.10	15

GBPNZD

GBPNZD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	2.03	2.00	15
1:00	3.53	2.50	15
2:00	1.90	2.00	15
3:00	2.10	2.50	15
4:00	2.10	2.00	15
5:00	2.07	1.50	15
6:00	2.23	2.00	15
7:00	1.90	2.00	15
8:00	2.03	2.00	15
9:00	4.83	3.00	15
10:00	1.83	2.00	15
11:00	1.87	2.00	15
12:00	1.93	2.00	15
13:00	4.97	2.00	15
14:00	2.60	2.50	15
15:00	2.50	2.50	15
16:00	38.53	13.00	15
17:00	36.17	36.50	15
18:00	4.87	5.00	15
19:00	3.37	3.50	15
20:00	2.23	2.00	15
21:00	2.33	2.50	15
22:00	2.30	2.00	15
23:00	2.50	2.50	15

GBPUSD

GBPUSD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.43	0.50	15
1:00	0.77	0.50	15
2:00	0.47	0.50	15
3:00	0.47	0.50	15
4:00	0.30	0.50	15
5:00	0.37	0.50	15
6:00	0.60	0.50	15
7:00	0.40	0.50	15
8:00	0.47	0.50	15
9:00	0.50	0.50	15
10:00	0.27	0.50	15
11:00	0.27	0.50	15
12:00	0.20	0.00	15
13:00	0.43	0.50	15
14:00	0.27	0.50	15
15:00	0.33	0.50	15
16:00	7.03	2.50	15
17:00	9.43	8.50	15
18:00	0.77	1.00	15
19:00	0.53	0.50	15
20:00	0.37	0.50	15
21:00	0.43	0.50	15
22:00	0.47	0.50	15
23:00	0.37	0.50	15

NZDCAD

NZDCAD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	1.13	1.00	15
1:00	1.13	1.00	15
2:00	0.93	1.00	15
3:00	0.90	1.00	15
4:00	0.87	1.00	15
5:00	0.87	1.00	15
6:00	0.87	1.00	15
7:00	0.83	1.00	15
8:00	0.77	1.00	15
9:00	1.73	1.00	15
10:00	0.77	1.00	15
11:00	0.83	1.00	15
12:00	0.70	0.50	15
13:00	1.43	0.50	15
14:00	0.93	1.00	15
15:00	0.70	0.50	15
16:00	27.53	9.50	15
17:00	11.03	10.50	15
18:00	1.43	1.50	15
19:00	1.13	1.00	15
20:00	1.07	1.00	15
21:00	0.97	1.00	15
22:00	1.07	1.00	15
23:00	1.17	1.00	15

NZDCHF

NZDCHF — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.43	0.50	15
1:00	0.60	0.50	15
2:00	0.43	0.50	15
3:00	0.43	0.50	15
4:00	0.50	0.50	15
5:00	0.40	0.50	15
6:00	0.33	0.50	15
7:00	0.47	0.50	15
8:00	0.40	0.50	15
9:00	1.17	0.50	15
10:00	0.47	0.50	15
11:00	0.43	0.50	15
12:00	0.40	0.50	15
13:00	0.73	0.50	15
14:00	0.40	0.50	15
15:00	0.37	0.50	15
16:00	14.97	6.50	15
17:00	8.40	8.00	15
18:00	1.03	1.00	15
19:00	0.70	0.50	15
20:00	0.57	0.50	15
21:00	0.60	0.50	15
22:00	0.60	0.50	15
23:00	0.50	0.50	15

NZDJPY

NZDJPY — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.68	0.70	15
1:00	0.67	0.70	15
2:00	0.64	0.60	15
3:00	0.61	0.60	15
4:00	0.77	0.70	15
5:00	0.65	0.60	15
6:00	0.67	0.60	15
7:00	0.71	0.70	15
8:00	0.67	0.70	15
9:00	1.48	0.80	15
10:00	0.65	0.70	15
11:00	0.58	0.60	15
12:00	0.67	0.70	15
13:00	1.13	0.70	15
14:00	0.83	0.80	15
15:00	0.77	0.80	15
16:00	7.79	3.30	15
17:00	8.53	8.30	15
18:00	1.21	1.20	15
19:00	0.97	1.00	15
20:00	0.73	0.70	15
21:00	0.76	0.70	15
22:00	0.79	0.70	15
23:00	0.77	0.80	15

NZDUSD

NZDUSD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.20	0.00	15
1:00	0.27	0.50	15
2:00	0.33	0.50	15
3:00	0.23	0.00	15
4:00	0.37	0.50	15
5:00	0.33	0.50	15
6:00	0.37	0.50	15
7:00	0.37	0.50	15
8:00	0.27	0.50	15
9:00	0.43	0.50	15
10:00	0.23	0.00	15
11:00	0.30	0.50	15
12:00	0.33	0.50	15
13:00	0.23	0.00	15
14:00	0.30	0.50	15
15:00	0.30	0.50	15
16:00	6.87	2.50	15
17:00	4.93	5.00	15
18:00	0.53	0.50	15
19:00	0.27	0.50	15
20:00	0.37	0.50	15
21:00	0.33	0.50	15
22:00	0.30	0.50	15
23:00	0.33	0.50	15

SGDJPY

SGDJPY — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.82	0.80	15
1:00	0.82	0.80	15
2:00	0.76	0.70	15
3:00	0.75	0.70	15
4:00	1.03	0.80	15
5:00	0.83	0.80	15
6:00	0.70	0.70	15
7:00	0.89	0.80	15
8:00	0.99	1.00	15
9:00	2.13	1.20	15
10:00	0.73	0.70	15
11:00	0.69	0.70	15
12:00	1.03	1.10	15
13:00	2.03	1.00	15
14:00	1.01	1.00	15
15:00	0.98	1.00	15
16:00	18.37	14.80	15
17:00	12.55	10.70	15
18:00	2.15	2.10	15
19:00	1.24	1.30	15
20:00	0.87	0.80	15
21:00	0.78	0.80	15
22:00	0.78	0.80	15
23:00	0.79	0.80	15

USDCAD

USDCAD — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.47	0.50	15
1:00	0.50	0.50	15
2:00	0.57	0.50	15
3:00	0.47	0.50	15
4:00	0.50	0.50	15
5:00	0.47	0.50	15
6:00	0.47	0.50	15
7:00	0.33	0.50	15
8:00	0.37	0.50	15
9:00	0.43	0.50	15
10:00	0.23	0.00	15
11:00	0.27	0.00	15
12:00	0.13	0.00	15
13:00	0.23	0.00	15
14:00	0.13	0.00	15
15:00	0.33	0.50	15
16:00	6.63	2.50	15
17:00	5.93	5.50	15
18:00	0.80	1.00	15
19:00	0.67	0.50	15
20:00	0.57	0.50	15
21:00	0.60	0.50	15
22:00	0.53	0.50	15
23:00	0.57	0.50	15

USDCHF

USDCHF — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.30	0.50	15
1:00	0.33	0.50	15
2:00	0.23	0.00	15
3:00	0.23	0.00	15
4:00	0.20	0.00	15
5:00	0.23	0.00	15
6:00	0.17	0.00	15
7:00	0.23	0.00	15
8:00	0.33	0.50	15
9:00	0.63	0.50	15
10:00	0.20	0.00	15
11:00	0.33	0.50	15
12:00	0.20	0.00	15
13:00	0.53	0.50	15
14:00	0.13	0.00	15
15:00	0.30	0.50	15
16:00	8.20	8.00	15
17:00	5.67	5.00	15
18:00	0.67	0.50	15
19:00	0.33	0.50	15
20:00	0.23	0.00	15
21:00	0.37	0.50	15
22:00	0.33	0.50	15
23:00	0.33	0.50	15

USDJPY

USDJPY — spread by hour (ET)
Hour (ET)	Mean pips	Median pips	Samples
0:00	0.33	0.30	15
1:00	0.32	0.30	15
2:00	0.44	0.40	15
3:00	0.45	0.40	15
4:00	0.61	0.50	15
5:00	0.47	0.40	15
6:00	0.40	0.40	15
7:00	0.44	0.40	15
8:00	0.43	0.40	15
9:00	0.79	0.40	15
10:00	0.33	0.30	15
11:00	0.39	0.40	15
12:00	0.40	0.40	15
13:00	0.65	0.50	15
14:00	0.49	0.40	15
15:00	0.37	0.30	15
16:00	6.17	3.90	15
17:00	4.59	4.00	15
18:00	0.84	0.80	15
19:00	0.58	0.60	15
20:00	0.51	0.40	15
21:00	0.45	0.40	15
22:00	0.47	0.40	15
23:00	0.37	0.40	15