Thank You Mr. Draghi - Last ECB Thursday Brought the Highest Daily FX Volumes in 2014

Multiple independent sources in leading brokerages across the world are reporting to Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates that the ECB press conference day, which saw the EUR/USD pair trade within a 150 pips range in a rather violent fashion, has been the most active trading day of the year in terms of FX volumes. As the ECB's President, Mario Draghi, unveiled a new arsenal of monetary policy tools, trading activity has increased to levels unseen up until now in 2014.

LMAX's CEO, David Mercer, shared in a YouTube video commentary that last Thursday, the 5th of June, had been the highest volumes day ever for the company. He stated, "After the slow periods we've had in the FX markets this year and tremendously low Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term, we saw a big rebound yesterday after the ECB has cut interest rates by only 10 basis points."

He proceeded to express his views on the state of volatility in the FX market, saying, "The event shows what's possible in the FX market and that companies like LMAX should continue forward and ride out of the low volatility period." Mr. Mercer concluded, "June promises to be a better month for the FX market."

LMAX CEO, David Mercer, on FX Volatility