Saxo Bank Reports Slight MoM Recovery in FX Volumes in June

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The monthly trading volume for FX and equities was higher both on a monthly and yearly comparison.

Since March, trading volumes have been declining, as volatility has been tapering off in the trading markets. However, there has been a resurgence in June, and Saxo Bank is one of the multiple trading providers to report a monthly uptick.

For the multi-asset broker, foreign exchange (forex) trading provides the biggest contribution to its trading volumes. Throughout June, Saxo Bank posted a trading volume of $161.4 billion.

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When measuring this against the previous month, which had a trading volume of $158.7 billion, June’s volume has increased by 1.7 per cent. Although this is higher on a monthly comparison, June’s FX volume is still significantly less than the $248.6 billion volume achieved in March. However, this was the best monthly volume achieved in years for the broker and not an average figure.

Taking a look at how volumes faired on a yearly scale, June of 2019 posted a monthly volume of $134.0 billion. Therefore, last month has achieved an annual growth of 20.4 per cent.

The monthly trading volume for equities in June was $127.0 billion. Behind March’s highs, this is the second strongest monthly volume recorded so far this year. When measured against May of 2020, June’s volume is higher by 27.6 per cent.

On a yearly comparison, the increase seen by Saxo Bank is even more pronounced. In particular, because June of 2019 posted a monthly volume of $58.8 billion, the equities trading volume noted in June of 2020 is stronger by around 116.0 per cent.

The commodities monthly volume in June came in at $26.8 billion for Saxo Bank This represents a rise of 21.3 per cent against the $22.1 billion volume reported in May. However, when taking a look at the monthly volume achieved in the same period of the previous year, commodities trading has actually fallen from 43.6 per cent.

*Reprinted from Finance Magnate. The Copyright all reserved by the original author.