April appears to have been a difficult month for foreign exchange (forex) trading, as Euronext FX, , is the latest FX trading provider to publish lacklustre trading volumes for the month.
Specifically, the total trading volume for the month of April was $352.5 billion for Euronext’s FX trading venue. This is quite a drop from the , which was $441.8 billion, by around 20.2 per cent.
Not only is it lower on a month-on-month comparison, but April’s trading volume is also lower when comparing it against the same month of the previous year. Specifically, April of 2018 achieved a trading volume of $406.7 billion. Therefore, last month’s volume is down by 13.3 per cent year-on-year.
Taking a look at the average daily volume (ADV) for the month of April, unfortunately, the picture does not look much better, as ADV came in at around $16.0 billion for the month.
Against the previous month, which had an ADV of $21.0 billion, April’s ADV has fallen 23.9 per cent. Similar to trading volume, ADV for April of 2019 also doesn’t hold up on an annual comparison. In fact, it has declined by 17.3 per cent year-on-year.
Euronext FX Results Echo Cboe
During the month of April, the day which had the highest trading volume was the 24th of April, with a trading volume of $22.2 billion. The lowest trading volume occurred on the 19th of April – $2.5 billion.
Interestingly, the lowest and highest trading volumes fell on the exact same days for Cboe, a US options exchange. As reported earlier today, April also proved to be a weak month in terms of FX spot trading for the exchange.
In fact, Cboe reported its worst ADV in April of 2019 in almost two years. The next weakest monthly ADV was reported in August of 2017.
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