Euronext FX Trading Volumes Fall Further in August

Euronext has published its trading volumes for the month of August for its foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) trading venue. According to the data, Euronext FX joins a list of trading providers to see yet another monthly drop in FX trading activity.

Previously known as FastMatch, Euronext FX reported a total trading volume of $397.8 billion for the month of August. When measuring this against the previous month, which recorded a total monthly volume of $407.9 billion, this represents a decline of around 2.5 per cent.

Euronext, which operates the largest pan-European exchange, recorded a daily average of $18.9 billion during the month of August, which had 21 trading days, according to the data seen by Finance Magnates.

With FX trading volumes down on a monthly comparison, how did August’s performance hold up year on year? Taking a look at the data, it appears that last month’s trading volumes were even lower when measured against August of 2019.

Specifically, for the same period of last year, August 2019, Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term volumes came in at $490.9 billion for the month. Therefore, last months volume is weaker by about 19.0 per cent year on year. For August of last year, the average daily trading volume was $22.3 billion.

Throughout the whole of August 2020, 27th August achieved the strongest daily trading volume, with $24.1 billion changing hands during the day. The lowest trading volume was posted on 10th August 2020, with a daily volume of $13.8 billion.

Euronext FX Volumes Fall since March

Since the peaks reached in March, trading volumes across the world have been on the decline. However, June offered a surprising surge in trading activity, despite the fact that historically, June is typically a quiet month due to it being summer in the northern hemisphere.

Following on from June, July’s volumes reverted back to the declining trend. Since yesterday, the first wave of trading providers have published their volumes for August, Euronext FX among them, and the picture does not look optimistic.