On the heels of an eventful month for foreign exchange (FX) markets, Alpari RU has released its monthly trading volumes for May 2017, which show a healthy uptick in figures. The latest reading was reflective of a number of different market stimuli, with FX markets in Europe and the US both succumbing to jitters.
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Volatility has been a fluctuating force in 2017, with H1 2017 seeing isolated pockets and ranging volumes. In May, FX markets digested a multitude of political scandals in the United States, helping erode the USD. Europe had no shortage of trading activity due in part to French elections.
Alpari RU did notch a slight rebound in monthly volumes, which managed to secure a reading of $101.4 billon for May 2017. This correlated to a gain of 6.1 percent on a month-over-month basis from $95.6 billion in April 2017, which was one of Alpari RU’s lowest figures in 2017.
The latest growth was commensurate with other retail trading venues, nearly all of which experienced rising volumes in May 2017. Indeed, volatility and the aforementioned factors helped snap markets out of an April lull, which resulted in many yearly lows for several groups. Looking ahead to June, the month has been rife with several events, notably the US Federal Reserve’s decision to raise interest rates for the second time this year. Additionally, the ECB’s inaction this month also could result in an uptick in EUR activity.