The fastest growing Electronic Communications Network (ECN) for foreign exchange trading for the past year, Fastmatch, reported on the firm’s trading volumes in April. The company is showing a solid performance thanks to a strong final week of the month of April, in the aftermath of the first round of the French presidential election.
Total trading volumes transacted via the company’s facilities in April amounted to $380.7 billion, which is lower by 13.7 percent when compared to the month of March and higher by 67.6 percent when compared to a year ago,
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The average daily volumes for the month of April totalled $19 billion, which is just a notch lower than the $19.2 billion daily registered in March. The number is higher by 76 percent when compared to April 2016.
A chart of daily trading volumes shows that Fastmatch got a significant boost in the aftermath of the French election. While the daily average for the first three weeks of the month came to about $15.6 billion daily, the figure for the final week of April was 29.4 billion.
Pressure on the US dollar has been increasing in recent weeks from major peers like the euro and the British pound. Any potential break lower could unleash a flesh slew of FX volatility, a theme that hasn’t been observed since the US presidential election in November last year.