Foreign exchange trading volumes on Thomson Reuters Matching and FXall platforms have remained flat month-on-month throughout the month of December, with spot trading totaling $106 bln daily, representing a contraction by 11% when compared to November, but an increased year-on-year of about nine per cent.
The number was offset by foreign exchange trading volumes with other instruments, which increased to $244 billion daily, or about 7%.
The total number was reported at $350 billion daily, which is about flat when compared to the month of November.
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The number is quite solid considering the holiday full month of December, FX volatility across the spectrum has been supporting trading activity, while yesterday’s European Central Bank decision triggered a substantial move in the EUR/USD, essentially opening the floodgates.
Sources close to Forex Magnates have shared that in today’s trading a huge number of stops have been tripped on the move below 1.1200.