Cboe FX Volumes Signal Solid Uptrend despite December Lull

Institutional spot foreign exchange training venue, Cboe FX Markets, has published its volumes for December, showing a monthly slump in the demand at the end of 2020 but a positive yearly uptick. This is a , given the year-end holidays.
A quick analysis of the daily volumes of spot FX volumes for December 2020 shows that the demand drastically went down in the last week of the month. While on Christmas eve, the daily volume dipped to $14.68 billion, and the institutional forex demand peaked on December 21 with $42.56 billion.
The total trading volume in the month came in at $719.12 billion, which was down from the previous month’s $789.05 billion. That was a month-on-month decline of 8.9 percent.
Cboe’s average daily forex volume slumped to $32.69 billion. The figure was $37.57 in the previous month. It is to be noted that December had 22 trading days compared to November’s 21.
The Market Trend Is Positive 
When compared with the same month a year ago, last month’s numbers project a positive trend of the market. Cboe reported $628.11 billion in total FX volumes in December 2019. This means the forex demand on its platform saw a yearly uptick of 14.45 percent last month.
Comparing the quarterly figures, Cboe ended the last 2020 quarter with solid performance, which was mostly dragged by the . 
The ADV in the quarter remained at $33.68 billion, which was only behind Q1 of 2020, which spiked due to the March volumes. Notably, Cboe breached the with its trading volumes in March.
The quarterly ADV number stood at $30.07 billion in the same quarter the previous year, cementing the ongoing uptrend in the forex trading industry.