Doo Group Reports Trading Volume of $46.10 Billion in July, Up 67.8% YoY

Doo Group, a large financial services group with financial technology at its core, today released its July 2022 trading volume report, recording USD46.10 billion in total trading volume in the month.

The July 2022 total trading volume sees a decrease of 30.10% compared with the previous month. Nonetheless, on a yearly basis, the trading volume shows a significant increase of 67.8% compared to USD27.48 billion in the same month last year. 

Meanwhile, the average daily volume (ADV) in July was USD1.49 billion, a decrease of 32.35% compared to June 2022.

This number is a total of trading volumes from the Group's affiliates, Doo Clearing Limited, which is a London-based FCA-regulated liquidity provider, and Doo Prime, a leading global online broker.

The U.S Consumer Price Index (CPI) rose by 9.1% year-on-year in June, reaching a near 41-year high. To curb the high inflation rate, the United States Federal Reserve announced a 75-basis point interest rate hike on July 27, the fourth time the Federal has raised rates so far this year.

As a result of the active rate hike, US dollar assets appreciated back and, as commodities have denominated in US dollars, this led to a fall in major commodity prices in July. This is with crude oil prices falling by 10% and metal prices plummeting by 13.4%.

As a result, the average commodity prices were slightly lower in July than in June. Despite a significant increase in the overall number of lots traded in July, the total trading volume fell back due to price volatility and the macro environment.

To date, Doo Group's total volume traded is valued at USD384.25 billion. Of this total, July saw an increase in the total volume of 134.35% compared to the same period last year.

According to the data, XAU/USD, EUR/USD, and GBP/USD were the top choices for traders. They took up 80.88% of the total trading volume in July.

In addition, XAU/USD recorded the highest monthly trading volume with USD30.11 billion. The other two strongest pairings are EUR/USD and GBP/USD, which recorded USD7.18 billion of the overall monthly trading volume.

The EUR/AUD recorded the highest increase in monthly trading volume, with USD110 million, or 54.83% compared to June.