Matching volume declines we have seen across the board at leading Retail and Institutional eFX platforms in what seems to be a very slow summer trading season, Denmark-based multi-asset broker Saxo Bank has reported that August volumes came in at $221 billion, or $9.6 billion per trading day during the month.
The $221 billion figure was Saxo Bank’s lowest monthly figure for 2016, and 17% below July’s $265 billion – Saxo Bank’s highest volumes of 2016 and its best month since January 2015 (which included the wild trading around the surprise Swiss Franc spike).
Volatility in key currency pairs was fairly low during August, leading to low Forex industry volumes. However we understand that trading has picked up nicely already during September at a number of eFX trading venues.
