In case you want to know what spread is, refer to this article.
A low spread means there is only a slight difference between the Bid and the Ask price. A higher than average spread usually indicates these market conditions:
- Increased volatility in the market due to the economic news;
- Low liquidity due to after-hours trading (at night).
It is, in fact, normal for spreads to increase during the night and especially on Mondays since there are not as many participants in the trading, and therefore the liquidity is low. On Mondays, the market for currencies is awaking from its time off over the weekend. The currency market trends are not clear right after weekends: the market could either confirm a previous trend or start a completely different one.
Also, before news events or during significant events, spreads can widen considerably.
Let us kindly remind you of the Customer Agreement:
3.3.7. Spread on trading accounts can be widened before, in time, and after economic, political, and other news releases, during the Gap, at the time of Market opening (on Monday) as well as at the time of low market liquidity, and when a market situation is conditional on high spreads.