Tough Month for FX, Euronext FX Sees Weak Volumes in April

Trading volumes fell both on a monthly and yearly comparison during the month of April.

April appears to have been a difficult month for foreign exchange (forex) trading, as Euronext FX, also known as Fastmatch, is the latest FX trading provider to publish lackluster trading volumes for the month.

Specifically, the total trading volume for the month of April was $352.5 billion for Euronext’s FX trading venue. This is quite a drop from the trading volume reported in the previous month, which was $441.8 billion, by around 20.2 percent.

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Not only is it lower on a month-on-month comparison, but April’s trading volume is also lower when comparing it against the same month of the previous year. Specifically, April of 2018 achieved a trading volume of $406.7 billion. Therefore, last month’s volume is down by 13.3 percent year-on-year.

Taking a look at the average daily volume (ADV) for the month of April, unfortunately, the picture does not look much better, as ADV came in at around $16.0 billion for the month.

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Against the previous month, which had an ADV of $21.0 billion, April’s ADV has fallen 23.9 percent. Similar to trading volume, ADV for April of 2019 also doesn’t hold up on an annual comparison. In fact, it has declined by 17.3 percent year-on-year.

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During the month of April, the day which had the highest trading volume was the 24th of April, with a trading volume of $22.2 billion. The lowest trading volume occurred on the 19th of April – $2.5 billion.

Interestingly, the lowest and highest trading volumes fell on the exact same days for Cboe, a US options exchange. As Finance Magnates reported earlier today, April also proved to be a weak month in terms of FX spot trading for the exchange.

In fact, Cboe reported its worst ADV in April of 2019 in almost two years. The next weakest monthly ADV was reported in August of 2017.

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