Throughout the month of October, foreign exchange trading volumes submitted to the CLS Group’s settlement and aggregation service have ticked up slightly when compared to the previous month, with a broad trend of increasing activity on the forex market remaining intact last month.
Extraordinary activity related to diverging monetary policy courses throughout the world and some substantial songs in commodity prices have contributed to another strong month of foreign exchange trading volumes.
As the Bank of Japan embarked on yet another strong easing effort and the country has entered into a recession, activity in November is quite likely to remain on the high side according to multiple industry insiders.
FBS CopyTrade Launches a New Card Scanning Feature!Go to article >>
Average daily foreign exchange trading input volumes combining the settlement and aggregation services, ticked higher by 3.2% to 1,465,105, which is higher by 3.2% from 1,419,102 reported in September.
The average daily input value submitted to CLS was $5.29 trillion, lower by 10.9% from $5.94 trillion in September, which was characterized by unusual trading activity in the major pairs due to Mario Draghi’s ECB commitment to further the easing monetary policy and the referendum on Scottish independence.
The number of instructions received by CLS doesn’t necessarily reflect settlement during the same period, hence the difference between volumes and values. CLS reports both sides of an FX transaction.