here is an extract from a report that ive fond online, has it affected any of your trading?
Unfortunately the forex market has not escape the impact of global deleveraging and the failure of Lehman Brothers in 2008. Central banks from around the world have released their semi-annual foreign exchange surveys and based upon all of the reports, forex trading volume decreased significantly between April 2008 and April 2009. Investors large and small have reduced risk with carry trades unwound aggressively. The lack of participation may explain why the major currency pairs have been stuck in a range since the beginning of May. In New York for example, forex spot trading volume fell to the lowest level in more than 3 years.
London remains the most active forex trading center followed by NY and Tokyo. The EUR/USD is still the most actively traded currency pair by far.
Here are some stats (all of data is in billions of U.S. dollars):
- Britain is the world’s biggest FX trading hub with over a third of global turnover.
- Average daily turnover in forex products fell 20% since October 2008 to $1,356B, down 25% from April 2008
- Majority of decline was attributed to less activity in spot FX which fell 28%
- The most heavily traded currency pair was euro/dollar, which accounted for 32% of total turnover.
Unfortunately the forex market has not escape the impact of global deleveraging and the failure of Lehman Brothers in 2008. Central banks from around the world have released their semi-annual foreign exchange surveys and based upon all of the reports, forex trading volume decreased significantly between April 2008 and April 2009. Investors large and small have reduced risk with carry trades unwound aggressively. The lack of participation may explain why the major currency pairs have been stuck in a range since the beginning of May. In New York for example, forex spot trading volume fell to the lowest level in more than 3 years.
London remains the most active forex trading center followed by NY and Tokyo. The EUR/USD is still the most actively traded currency pair by far.
Here are some stats (all of data is in billions of U.S. dollars):
- Britain is the world’s biggest FX trading hub with over a third of global turnover.
- Average daily turnover in forex products fell 20% since October 2008 to $1,356B, down 25% from April 2008
- Majority of decline was attributed to less activity in spot FX which fell 28%
- The most heavily traded currency pair was euro/dollar, which accounted for 32% of total turnover.
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