Forex trading volumes soaring as Euro drops below $1.25, Oil below $79, Yen heading to 120


LeapRate Exclusive… It is the beginning of the month and like most of the Retail Forex industry we are very focused on seeing October FX trading volumes from across the sector. And based on preliminary returns (Hotspot FX, Interactive Brokers, Click365), it looks like October will be a strong month in the FX trading world, although probably not quite as good as September’s near-record volumes.

But in the near term, it seems as though some big moves in the key major currencies (and commodities) are leading to some whopping FX trading volumes.

Cases in point:

  • Yesterday (Monday November 3) the EURUSD pair crossed below the 1.25 level for the first time since 2012.
  • The Japanese government’s continued monetary easing led to a 3% drop in the USDJPY on Friday (October 31). On Monday, USDJPY peaked around 114.20 and currently sits  comfortably above the 113 handle – the first time it has been that high since 2007!
  • WTI Oil now sits at $79, its lowest closing level since 2012.

EURUSD two year low

EURUSD six month chart. Source: Google Finance.

Not surprisingly, Hotspot FX reported one of its best days ever on Friday at $54 billion (Hotspot averages $30 billion per day). And if this keeps up, November could surpass even September, as retail traders are inexorably drawn to ultra-volatile and record-setting markets.

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Forex trading volumes soaring as Euro drops below $1.25, Oil below $79, Yen heading to 120

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