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Saxo Bank Reports Slight MoM Recovery

Since March, trading volumes have been declining with volatility tapering off in trading markets. However, there has been a resurgence in June for trading providers. Saxo Bank is one of those to report a monthly uptick.

For Saxo Bank, foreign exchange (forex) trading provides the biggest contribution to its trading volumes. Throughout June, the multi-asset broker posted a trading volume of $161.4 billion.

The previous month had a trading volume of $158.7 billion and June’s volume has increased by 1.7 percent.

This is higher on a monthly comparison. June’s FX volume is still significantly less than the $248.6 billion volume achieved in March. However, this was the best monthly volume achieved in years for Saxo Bank, and was not an average figure.

 

Saxo Bank: How Volumes Faired on a Yearly Scale

June of last year (2019) posted a monthly volume of $134.0 billion. Therefore, June 2020 has achieved an overall annual growth of 20.4 percent.

The monthly trading volume for equities last month was $127.0 billion. Behind March’s highs, this is the second strongest monthly volume recorded so far in 2020. When measured against May, June’s volume is higher by 27.6 percent.

On an annual comparison, the increase seen by Saxo Bank is even more pronounced. June of 2019 had a monthly volume of $58.8 billion. Hence, the equities trading volume noted in June of 2020 is stronger by around 116.0 percent.

Meanwhile, the commodities monthly volume in June came in at $26.8 billion for the broker. This represents an uptick of 21.3 percent against the $22.1 billion volume reported in May.

However, commodities trading has actually fallen from 43.6 percent. That is specifically when taking a look at the monthly volume achieved in the same period of the previous year.



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