Summer lulls appear to have hit CBOE, which has released its foreign exchange (forex) spot trading volumes for the month of July this Thursday, as the noted its weakest monthly trading volume since December of 2017.
In July, CBOE reported a total volume of $632.51 billion, with an average daily volume of $27.50 billion. Despite the fact that there were 23 trading days in July and only 20 in June, July’s volume is lower than June’s $661.64 billion by 4.4 per cent.
When measuring last month’s trading volume on a year-on-year comparison, it is lower by 13.3 per cent, as July of 2018 achieved a trading volume of $729.77 billion, as .
CBOE continues to see weak volumes in 2019
Not only is July’s volume lower on both a yearly and monthly comparison, but it is also the lowest trading volume recorded all year, with June having the next lowest volume. Furthermore, it is the lowest trading volume in more than one and a half years, since December 2017.
Out of the whole month, the lowest daily trading volume occurred on the 4th of July 2019, which is the United States’ Independence Day. On this day, only $13.7 billion worth of spot FX was traded on the exchange.
The best trading day in the month of July occurred on the last day of the month, the 31st, which saw a daily trading volume of $39.72 billion. The next best day was the 25th of July when $37.32 billion worth of spot FX was traded.
On the whole, 2019 has been a sluggish month in terms of the trading volume. Not only is July’s volume the worst since December of 2017, but so was June’s monthly trading volume, as December of 2017 had a trading volume of $623.45 billion.
After June and July of this year, the next lowest trading volume since the end of 2017 was December of 2018. However, as , in April of this year, the exchange noted the lowest monthly average daily volume since August of 2017.