Intercontinental Exchange has reported that its total forex volumes for the month of June stood at 32,000, an improvement from 20,000 in May, representing a growth of 60 percent month-on-month. However, this is much lower than the 60,000 reported in June last year, a decline of 47 percent.
The average daily volumes in the first six months of the year stood at 25,000 contracts, much lower than the ADV of 42,000 in the first half of 2013, a 40 percent decline year-on-year.
In a separate report, GAIN Capital’s retail forex unit FOREX.com released its Quarter 3 market outlook report. It notes that the quarter will markedly experience an uptick in volatility as the Federal Reserve mulls its options as the asset-purchase program draws nearer in October. It also expects that global focus will shift to Asia due to recovering Chinese economy, which may extend the stock market advance.
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“The next three months are packed with market moving events: including the end of tapering from the Fed, a hawkish Bank of England, a fragile economic recovery in China and the Scottish independence vote. Volatility should pick-up and we expect some big market moves this quarter. Stocks could have one last hurrah, the pound could reach fresh multi-year highs before succumbing to referendum fever and the USD could bounce back as we get closer to the fourth quarter,†noted Kathleen Brooks, the research director FOREX.com, in a press release.
In another report, forex liquidity provider CFH Clearing announced on Thursday the appointment of Paul Jackson as its Head of Sales. Mr. Johnson previously worked at LMAX Exchange as the Group Sales Manager. Before then, he worked at CMC Markets as the Head of Tradefair and as the Head of Customer Strategy. Mr. Jackson, who began his career with the defunct NationsBank, will report to CFH CEO Lars Holst. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.
