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Foreign Exchange

FX news: Low volume August

Volumes reported for August were down to their lowest levels of the year. If the cause is summer doldrums, we should see some pick up in September. The figures (Icap/EBS up only 4% year on year, Thomson Reuters up only 7%) are somewhat disappointing compared with the first half of the year, but the market has become more range-bound since the plunge in EUR/USD abated.

Total average daily volumes on the EBS platform were $127.6 billion, down from $133.3 billion in July and up from $122.3 billion in August 2009.

Thomson Reuters average daily FX spot volumes (representing the average amount traded daily on Thomson Reuters main FX spot trading services: Thomson Reuters Dealing, Matching and Reuters Trading for FX) were slightly over $124 billion, broadly flat on July and up from $116 billion in August 2009.

Average daily volume at CLS told a similar story of a slight decrease against July, volume was down 4% while average daily values were slightly higher at $3.95 trillion compared with $3.93 trillion.

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