The Tokyo Financial Exchange (TFX) announced its volumes for the month of November this Monday, with the Japanese exchange reporting an overall weak month in terms of foreign exchange (forex) trading.
For the Japanese exchange as a whole, the combined trading volume for all TFX products was 2,201,080 contracts, with an average daily trading volume of 105,020 contracts. When comparing this against the previous month, it is lower by 24.3 percent. November’s figure has also fallen by 28.3 percent year-over-year.
FX trading falls on TFX
Taking a look at the total trading volume of forex daily futures contracts, the picture does not look much better, with only 1,451,538 contracts traded during the month of November. This translates to a daily trading volume of 69,121 contracts.
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In terms of growth, the trading volume for FX daily futures in November fell on both a monthly and yearly comparison. In particular, it declined by 29.0 percent and 43.6 percent against the previous month and year-on-year, respectively.
Taking a look at individual currency pairs, trading of the British pound/US dollar fell by 74.4 percent when compared to the previous month, with 22,825 contracts traded in November, and a daily average volume of 1,087.
On the reverse side, the currency pair to record the biggest monthly growth in November is the New Zealand dollar/Japanese yen currency pair, which rose by 36.9 percent from October. On a yearly comparison, the Mexican peso/Japanese yen posted the biggest uptick.
Moving on to three-month Euroyen futures, things look a bit better for the exchange. This is because, during the month of November, the trading volume was 86,459 contracts with an average daily volume of 4,323 contracts. This represents an increase of 88.9 percent and 32.6 percent on a monthly and yearly comparison, respectively.