Spread behaviour in the seconds before US data

[FXS London Scalper]

Spreads on USD pairs start to widen before major US releases, but the timing varies by broker and event. Understanding the pattern helps decide when to be flat.

What's commonly observed:
- 5–2 minutes before: spreads slightly wider than normal, maybe 1.5x.
- 60–10 seconds before: widening accelerates. Fewer price levels are shown, and the ones left sit further apart.
- 0–5 seconds after: peak widening. On EURUSD, spreads of 3–10 pips aren't unusual on some feeds.
- 5–60 seconds after: gradual normalisation.
- 1–3 minutes after: back to roughly normal on majors.

Implications:
- A position open at release time will close at a wider spread if exited immediately.
- Stops triggered in the first seconds face both widening and slippage.
- Pending orders near price can trigger on the spread widening alone, without the mid price reaching the level.

Recording your own broker's pattern for a few releases is worthwhile. Some brokers widen early but recover fast, others stay wide longer.

How wide does your broker go at NFP? Interested in comparisons.