Trading volumes data for the month of May reveals that the Japanese company’s global volumes marked the second slowest month this year. The monthly trading value for all subsidiaries of Monex Group Inc totaled $34.4 billion in May.
The figure is only 3.3 percent lower when compared to the previous month and remains 5 percent higher than a year ago. The subdued activity on the foreign exchange market when compared to April was mostly due to the scaling back of expectations of an early rate hike by the U.S. Federal Reserve.
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While this is the second consecutive monthly decline, the final month of the second quarter so far looks buoyant due to the impending prospects for a Greek departure from the Eurozone. Nevertheless, with the summer months coming, trading activity in foreign exchange is expected to drop further.
On a different front, the Daily Average Revenue Trades have remained almost flat when compared with the previous month at 318,237.
Due to Japanese holidays, the number of trading days for Japanese subsidiary Monex Inc in May have been lower by three when compared to April at 18. The global FX volumes which Monex Group reports have unveiled figures in nominal terms. If we look at the report on an average daily volumes perspective, the figure would be in line with the previous month.