Saxo Bank's October 2017 FX Volumes Down 3.7% Month-On-Month

Multi-asset brokerage Saxo Bank has released its trading data for October 2017, showing decline in volumes across the board. Total monthly volumes, which accumulates all traded assets including equities, commodities, fixed income and foreign exchange, dropped 4.2 per cent on a month-on-month basis from $342.6 billion in September to $328.5 billion in October.

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The aforementioned slowdown was also reflected in Saxo’s average daily volume (ADV), which went down 8.6 per cent this passing month, totaling $14.9 billion in October.

Focusing on Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trading volumes, the Danish multi-asset brokerage recorded a small decrease of 3.7 per cent month-on-month with $237.9 billion in October 2017. Regarding ADV, we can also see lower numbers month-on-month, from $11.7 billion in September to $10.8 billion in October.

However, despite of the lower performance month-on-month, if we take a step back and look at Saxo Bank's data on a yearly basis, there’s a slight increase in total monthly volumes (5.7 per cent), and in forex monthly volumes (3.7 percent).