Saxo Bank Reports 12.1% MoM Decline in FX Demand in December 2022

Fazzaco learned that Saxo Bank, the online trading and investment specialist, has released its trading volumes on the platform for December 2022, showing a decline in FX demand.

According to the latest figures, the total trading volume for the month came in $415.7 billion, decreasing 9.3 percent on a month-to-month basis from November's $458.4 billion. Additionally, the total average daily volume in December was $18.9 billion, which was nearly 9.1 percent lower than last month's $20.8 billion.

Saxo Bank reported that the average daily volume for forex trading in December was $5.5 billion and total FX trading volume for the month came in at $121.3 billion. That was a month-over-month drop of 12.1 percent compared to last month's $138 billion.

Moreover, commodities market, Equities market and fixed income market also saw a decline in demand, bringing a total of $30.8 billion, $255.7 billion and $7.9 billion in monthly volumes, respectively.