Saxo Bank Saw 12.8% MoM Decline in FX Demand in October

Fazzaco learned that Saxo Bank has released its trading volumes on the platform for October 2022, showing a decline in FX demand.

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According to the latest figures, the total trading volume for the month came in $432.2 billion, decreasing 2.7 percent on a month-to-month basis from September's $444.4 billion. Additionally, the total average daily volume in October was $20.6 billion, which was nearly 2 percent higher than last month's $20.2 billion.

Saxo Bank reported that the average daily volume for forex trading in October was $6.1 billion and total FX trading volume for the month came in at $127.9 billion. That was a month-over-month drop of 12.8 percent compared to last month's $146.7 billion.

Moreover, commodities market also saw a decline in demand, bringing a total of $36.4 billion in monthly volumes. Equities markets and fixed income market saw a rise in demand, bringing a total of $256.5 billion and $11.4 billion in monthly volumes, respectively.