Global Currency Trading Falls Amid Volatility Drop, Market Probe
And amid central banks interventions. CBs are not going to allow new forex rise. They can not cotrol it and obviously some think that it was the cause of all the problems.
Where will all this end. This is not the forex I have known a few ears ago. This is a forex travesty
When will it end? When our oligarchs realize that we can't make any money on Forex to raise ourselves up.... so, never.
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Foreign-exchange volumes in the U.S., U.K. and Australia fell in April from a year earlier, according to reports from the world’s biggest central banks, amid subdued price swings and a probe into trading activity.
Average daily currency turnover in North America was $811.1 billion, a 20 percent drop from a record $1 trillion in April 2013 and a 0.6 percent decline from October, the Federal Reserve-sponsored Foreign Exchange Committee said in a statement on its website, citing a twice-yearly survey. In the U.K., April’s $2.4 trillion in turnover was 6 percent below the record high of $2.6 trillion a year earlier, the Bank of England’s Foreign Exchange Joint Standing Committee said. Daily U.K. trading rose 7 percent from October.
Implied volatility in foreign-exchange markets slumped to a record this month amid muted price swings as policy makers provided unprecedented amounts of cheap cash to spur growth.
Deutsche Bank AG’s Currency Volatility Index, based on three-month options for nine major currency pairs, fell to a record 4.93 percent on July 21.
Danske Bank A/S Chief Executive Officer Thomas Borgen signaled last week he’ll cut jobs in currencies and fixed-income trading unless investors return. The Copenhagen-based company’s revenue from market making plunged 77 percent in the second quarter from a year earlier, dragging down net trading income.
Credit Suisse Group AG is cutting expenses at its foreign-exchange and rates businesses by shifting more of those trades to its electronic platform, Chief Financial Officer David Mathers said July 22 on a conference call.
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