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Screenshot of a breaking news alert e-mail from Q2 2017
Looks like the risk-on / risk-off volatility in November helped drive FX volumes.
CME Group, which runs the world’s largest derivatives marketplace, announced that FX contract volumes (mainly Eurodollar futures contracts) in its system were up by 9% in November from October levels to an average of 775,000 contracts daily. It looks like the U.S. election-driven volatility — with a post-election risk-off trade driving the EURUSD down from 1.30 down to below 1.27, followed by a mid-month risk-on bounce back up to above 1.30 by month-end — brought more traders and more volume back to the FX markets.