In our latest Retail FX Volume Index we reported that globally, April was one of the slowest months for FX trading in the past two years.
And it appears as if May will turn out to be even slower.
It is still early in the reporting cycle, but from what we’ve seen so far out of Japan FX and now in Russia, low volatility has continued to harm FX trading volumes.
While still up nicely over last year, Moscow Exchange saw May FX volumes take a 10% tumble from April, coming in at 16.7 trillion rubles for the month. Visually over the past 2+ years:
