While volatility picked up in a massive way following yesterday's ECB monetary policy decision, November's volumes are coming in slow
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.
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.
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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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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