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A meager 5% gain, but recovery in retail volumes looks steady, bringing us closer to the mean
Saxo Bank has reported its November volume metrics this afternoon and the numbers keep gradually picking up from the slump observed at the end of summer. Monthly volumes were registered at $251 billion which is a rise of 5% on last month’s digits.
While still below the extraordinary high numbers observed last winter, business is going back to normal slowly getting closer to the mean level for the past years. The retail volume metrics recovery at Saxo bank that started last month is ongoing.
It will be curious to observe whether there will be a direct correlation to the Japanese Yen trading as in recent trading sessions it is starting to slump again – a theme that was largely correlated to increased retail FX volumes in the start of the year especially with Japanese brokerages.
The pace of recovery remains slower than last month’s 8% gain, but the trend reversal since September is intact. We are awaiting more volume metrics data from leading institutional and retail brokerages in the coming sessions, so stay tuned to LeapRate.