Danish retail broker Saxo Bank has published its trading volumes for June. After reporting mediocre foreign exchange (forex) volumes in May, the firm has yet again recorded a lackluster performance.
During June, Saxo Bank reported a monthly FX volume of $134.0 billion. When measured against the previous month, which noted a monthly volume of $145.2 billion, it is lower by 7.7 percent.
Interestingly the daily average volume for the forex markets came in at $6.7 billion in June. Despite the fact that the overall volume fell for the FX sector, the average daily volume increased by 6.3 percent month-on-month, rising from $6.3 billion in May.
In May, equities were the standout asset class for Saxo Bank, recording a month-on-month growth in the monthly volume of 94.8 percent. In June, however, the sector has not performed so strongly.
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In fact, in June, the Danish broker reported a monthly equities volume of $58.8 billion. When measured against the previous month, this represents a decline of 31.7 percent. The daily average also fell from $3.7 billion in May down to $2.9 billion in June.
Commodities and FI shine in June for Saxo Bank
Taking a look at commodities, the multi-asset broker managed to achieve a solid performance, with the monthly volume coming in at $47.5 billion. This is higher than the $34.7 billion reported in May by 36.9 percent.
In line with the monthly volume increasing, so did the daily average for the commodities sector. In fact, it rose from $1.5 billion in May 2019 to $2.4 billion in June, which represents a growth of 60.0 percent month-on-month.
The fixed income segment, like commodities, also achieved solid trading volumes, with a monthly volume of $9.3 billion. Weighing this against May’s performance, June has achieved a monthly growth of 32.9 percent.