Alpari Russia’s Volumes Stagnate in May, Buoyed by GBP Trading

Alpari Russia has reported its trading volumes for the month ending May 2016, which saw a slight pullback in its monthly turnover relative to the previous month, part of an increasingly uneven performance in 2016 overall, according to an Alpari statement.

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Last month, Alpari Russia orchestrated a slight rebound in its turnover during April, which climbed tepidly to $91.8 billion, or 4.0% higher MoM. During May 2016 however, Alpari Russia’s volumes once again rescinded, paring last month’s meager gains en route to a figure of $89.0 billion. This correlated to a MoM decline of -3.1% from April 2016, though compared with other venues and exchanges, was able to avoid a more pronounced downturn.

One significant factor that contributed to May 2016’s largely static turnover was the influx of trading of the GBP/USD currency pair. With the long awaited Brexit vote slated for tomorrow, traders and market participants have been eyeing the instrument in what could be the biggest and potentially most volatile event since the Swiss National Bank (SNB) decision back in January 2015.

While the summer months typically illustrate a pullback in volumes, the GBP/USD saw an increase of 8.0% in trading during May 2016, while the big mover was the EUR/JPY, which grew 19.0% during May 2016 as well.