CLS volumes down 7% MoM in July

CLS’s Head of Information Services, Masami Johnstone, commented:

Consistent with the summer holiday season, we saw subdued levels of average daily traded volumes in July 2020. Daily traded volumes were USD1.66 trillion, down 7% from June 2020, comprising FX swap volumes of USD1.191 trillion (-3.6%), forward volumes of USD80 billion (-20%) and spot volumes of USD386 billion (-12.9%). Compared to the previous year the overall trend was also down, with a decrease of 4.8% and 27.9% in FX swap volumes and forward volumes respectively, while spot volumes were relatively unchanged (-0.5%).

Of particular note is the considerable downward trend in forward volumes compared to the previous month and year – a trend that started in April 2020 and has continued through to July.