As we enter into September, trading providers are now posting their volumes for the month of August. This Monday, Cboe, the , has done just that by publishing its spot foreign exchange (forex) volumes.
In August, Cboe reported a positive uptick in trading volumes on a monthly comparison, which reported the weakest monthly trading volume since December of 2017.
This recovery comes despite there being one less trading day in August than there was in July. Specifically, the US exchange noted a $728.03 billion trading volume in August, which translates to an average daily volume of $33.1 billion.
When measuring this against the previous month, which reported a total trading volume of $632.51 billion, it is higher by 15.1 per cent. It is also higher than the monthly trading volume recorded in June ($661.6 billion) by 10.0 per cent.
The trading volume recorded in August is the fourth-strongest result recorded so far this year. July noted the weakest volume reported by the exchange, followed closely behind by June, suggesting summer lulls had impacted the exchange.
Cboe Spot FX Volumes Fall YoY
Although August did manage to recover on a monthly comparison, when measuring it against the same month of the previous year, which achieved a trading volume of $802.1 billion, last month’s figure has fallen by 9.2 per cent.
In the month of August, there were 22 trading days. According to the data provided by Cboe, the most active trading day during the month was the 1st of August. On this day $46.5 billion was traded.
July, on the other hand, had its best trading day on the last day of the month, the 31st, which saw a daily trading volume of $39.72 billion. The worst performing day in August was the 19th of August when $22.98 billion was traded.
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