With the British Pound and the Japanese Yen tumbling, the Australian Dollar strengthening and the all-important EURUSD pair bouncing around, retail forex volumes have remained fairly robust during the first half of November after fairly spectacular volume metrics reported in September and October.
We know that September and October’s record trading volumes for some of the leading retail (and institutional) FX platforms might be hard to match without as much hard news out there driving the markets – no new foreign invasions or Mario Draghi policy change speeches to note so far in November – but the momentum created in September and October has certainly carried over so far.
The Euro continued its nose dive to as low as 1.23 in early November before bouncing back to the 1.26-1.27 level. The Yen continued on its tear toward USDJPY 1.20. And the Pound continues to test one year lows versus the dollar in the mid 1.50s.
USDJPY and GBPUSD one month charts. Source: Google Finance.
All great fodder for currency traders.
On the institutional side, Hotspot FX has reported that volumes in the first half of November stayed exactly (almost) at their October levels, $34.5B ADV versus $34.3B last month.