Saxo witnesses FX demand recovery in June

Saxo Bank has released its trading results for June 2022. The Denmark-headquartered financial services provider registered a monthly decline in most sections of the market.

Last month, the total trading volume came in at $398.8 million. This was a 5.4% decline from May’s $421.6million. On yearly basis, however, the trading volumes were more than 41% higher from June 2021.

The demand for Forex trading last month saw a marginal uptick compared to previous month. Forex numbers stood at $152.5 million, up by 2% compared to $149.6 million the previous month. Compared to the same period the previous year, the numbers strengthened by 44%.

Saxo Bank

The daily average in forex trading came in at $6.9 billion, up on monthly, as well as yearly basis.

Equities registered decline in demand to $192.1 million, lower than May’s $220.1 million. The asset class did register recovery compared to June 2021 by gaining nearly 52%.

Fixed income instruments brought in $15.6 million registering a 45.8% increase compared to May 2022. The demand for commodities registered a 6% drop compared to the previous month at $38.7 million.

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