Tokyo Financial Exchange’s May FX Volumes Decline by -10% MoM
- The Tokyo Financial Exchange (TFX) has released its volumes for the month of May, yielding a -10.0% drop in forex trading volumes MoM (1,879,665 total and 85,440 daily contracts), following lackluster April figures.
The Tokyo Financial Exchange (TFX) has released its volumes for the month of May, yielding a -10.0% drop in 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 MoM (1,879,665 total and 85,440 daily contracts) as the exchange was unable to reverse last month’s lackluster performance, according to a TFX statement.
The lag in volumes is hardly surprising given the continued lull inForex volatility, and while this has been slowly rekindled as of late, it was not enough to instigate greater trading activity on the TFX during May. The TFX’s 1,879,665 total contracts in May (vs. 2,088,673 contracts in April) represent a sizable decline in consecutive months and -66.2% YoY.
EUR/USD, EUR/JPY MoM Volume Grows
In particular however, trading in the EUR seems to have been a lone bright spot, with the EUR/JPY cross jumping 15.0% MoM in volume to 237,270 contracts in May (vs. 206,340 contracts in April). Moreover, the EUR/USD volumes also climbed 40.3% MoM to 54,088 contracts in May (compared to 38,533 contracts in April).
For the year, all the major pairs have also seen wide declines across the board in yearly contract volume on the TFX – this includes the EUR/USD, USD/JPY, and GBP/USD which as of May has fallen -46.8%, -78.3% and -50.0% YoY respectively.
The Tokyo Financial Exchange (TFX) has released its volumes for the month of May, yielding a -10.0% drop in 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 MoM (1,879,665 total and 85,440 daily contracts) as the exchange was unable to reverse last month’s lackluster performance, according to a TFX statement.
The lag in volumes is hardly surprising given the continued lull inForex volatility, and while this has been slowly rekindled as of late, it was not enough to instigate greater trading activity on the TFX during May. The TFX’s 1,879,665 total contracts in May (vs. 2,088,673 contracts in April) represent a sizable decline in consecutive months and -66.2% YoY.
EUR/USD, EUR/JPY MoM Volume Grows
In particular however, trading in the EUR seems to have been a lone bright spot, with the EUR/JPY cross jumping 15.0% MoM in volume to 237,270 contracts in May (vs. 206,340 contracts in April). Moreover, the EUR/USD volumes also climbed 40.3% MoM to 54,088 contracts in May (compared to 38,533 contracts in April).
For the year, all the major pairs have also seen wide declines across the board in yearly contract volume on the TFX – this includes the EUR/USD, USD/JPY, and GBP/USD which as of May has fallen -46.8%, -78.3% and -50.0% YoY respectively.