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Saxo Bank Reports November Trading Volumes Consolidating

by Victor Golovtchenko
  • While volatility picked up in a massive way following yesterday's ECB monetary policy decision, November's volumes are coming in slow
Saxo Bank Reports November Trading Volumes Consolidating
Bloomberg
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Saxo Bank published its monthly client trading volumes for the month of November on its website. In nominal terms the figures have come out flat when compared to the previous month, marking $218 billion. The total monthly volumes figure has been remarkably consistent since August 2015 when it marked $220.4 billion.

Due to fewer trading days in November, the average daily trading volumes picked up by 5 percent when compared to last month's $10.4 billion daily. The numbers are substantially lower than last year's with the monthly figure trailing 27 percent, while the ADV is lower by 30.5 percent.

Saxo Bank, trading volumes

Saxo Bank nominal and average daily trading volumes

The declining trading activity across different markets has been the primary driver of subdued trading activity. In a way, the EUR/USD, which is still the most actively traded instrument across foreign Exchange and CFDs brokers, has been ranging in recent quarters.

In the build up to the major central bank's decisions in December, the currency markets have been consolidating within the ranges established earlier in the year. However, in the aftermath of yesterday's European Central Bank (ECB) decision, the currency markets reacted with a big spike in Volatility and trading volumes.

At the same time, equity indices sold off after the expectations for a massive stimulus from the ECB never materialized, causing substantial activity across virtually all asset classes. The incoming non-farm payrolls report for November has the potential to further ignite volatility today.

Saxo Bank published its monthly client trading volumes for the month of November on its website. In nominal terms the figures have come out flat when compared to the previous month, marking $218 billion. The total monthly volumes figure has been remarkably consistent since August 2015 when it marked $220.4 billion.

Due to fewer trading days in November, the average daily trading volumes picked up by 5 percent when compared to last month's $10.4 billion daily. The numbers are substantially lower than last year's with the monthly figure trailing 27 percent, while the ADV is lower by 30.5 percent.

Saxo Bank, trading volumes

Saxo Bank nominal and average daily trading volumes

The declining trading activity across different markets has been the primary driver of subdued trading activity. In a way, the EUR/USD, which is still the most actively traded instrument across foreign Exchange and CFDs brokers, has been ranging in recent quarters.

In the build up to the major central bank's decisions in December, the currency markets have been consolidating within the ranges established earlier in the year. However, in the aftermath of yesterday's European Central Bank (ECB) decision, the currency markets reacted with a big spike in Volatility and trading volumes.

At the same time, equity indices sold off after the expectations for a massive stimulus from the ECB never materialized, causing substantial activity across virtually all asset classes. The incoming non-farm payrolls report for November has the potential to further ignite volatility today.

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