Cboe Spot FX Volumes Fall in July, Ending Spike Seen in June

In the month of June, many trading providers reported a jump in trading volumes. With July now behind us, brokers are now revealing their metrics for last month. If the published by Cboe are anything to go by – June’s trading volume surge was a one-off event.
So far in 2020, trading volumes have been higher on average – particularly during February and March, as volatility driven by COVID-19 saw a spike in trading activity across the globe.

Since the , when the spot trading volume surpassed $1.20 trillion for the month, trading volumes have been on a downward trend, returning to more subdued figures. However, in many trading providers recorded a spike in volumes. This was uncharacteristic for the month of June, which is usually a lacklustre month due to the summer period.
Cboe spot FX volumes fall 9% MoM
If Cboe’s spot monthly volume figures are anything to go by, it appears that June was a one-off event. During the seventh month of the year, Cboe reported a total spot monthly volume of $690.71 billion and an average daily volume of $30.03 billion.
The monthly volume achieved in July of 2020, is lower than the previous month by 9.3 per cent. It is also worth noting that there was one extra trading day in July when compared to June (23 versus 22).
Although July’s trading volume is lower than what was achieved in June of 2020, last month’s trading volume is the second-strongest monthly volume achieved since March of 2020, coming in and May.
Across the month of July, Cboe posted its strongest daily trading volume on the 31st of July 2020, racking up a daily trading volume of $44.17 billion. On the 3rd of July, the firm noted its weakest daily volume, coming in at $12.97 billion.

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