Euronext Follows Industry, Reports 6.1% Monthly Dip in July FX Volume

FX ADV strengthened when compared year-over-year.

Euronext has released its trading volume metrics for the month of July, reporting a decline in demand in foreign exchange (forex) trading and in most of the other markets. But, the figures still remain stable on a yearly basis.

According to the official figures, the total trading volume on Euronext FX for last month came in at more than $399.6 billion. This was a decline of 6.1 percent when compared to the numbers in the previous month, but a marginal 2 percent drop on a year-over-year.

The average daily volume (ADV) on the exchange stood at $18.1 billion, which is a similar 6.1 percent decline from June. However, the forex ADV strengthened by 2.4 percent when compared to the numbers reported in July last month. This is mostly because of one less trading day last month than the same month last year: July 2021 had 22 trading days.

However, the year-to-date demand looks grim as the total went down by 13 percent, while the ADV slumped by 11.9 percent. In absolute terms, $2.96 trillion worth of forex instruments were traded on Euronext FX in the first seven months of the ongoing year.

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The monthly slump of Euronext’s forex demand follows the industry as most of the other industry players reported a dip, which is a cyclical norm in the industry.

Other Markets Also Dipped

Coming to the derivatives markets, demand for equities witnessed a drop of 17.6 percent month-over-month, while on a yearly basis it declined by 3.9 percent. In addition, the total monthly volume of the index and individual equities down, only commodities volume strengthened by 20 percent when compared to June and 23 percent from July last year.

In the cash markets, though the number of transactions marginally increased on a monthly basis, transaction value dropped by 4 percent. On the other hand, year-over-year the transaction numbers declined, while transaction value strengthened.

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