August started out with a bang on the 6th and 9th following the non-farm payroll report and a subsequent drop in gold. After this burst in volatility, August slowed down substantially. Volatility in equities has continued to trend down as the major market indices continue to mint new all-time highs.
July volumes rebounded slightly from depressed June figures, but profits again disappointed as a result of retail traders generally making money in July’s favorable market conditions. Gold and indices were with primary driver of revenues while profits from major currency pairs, especially EURUSD, were fairly poor.
June was a rocky month for most brokers as an overall lack of volatility in markets depressed both volumes and profits. Most of the month’s revenues were concentrated around the US FOMC meeting mid-month. Gold was the main driver of profitability as brokers were positioned correctly while the price fell from over $1,900 to finish the month at $1,770
May was a below average, but respectable, month in terms of profitability as a handful of strong days drove overall figures for the month. The rallies in gold and EURUSD were the primary sources of revenue for most brokers. Volumes also ended up subpar as a result of low volatility range bound markets in the latter part of the month.
April was a disappointing profitability month for the vast majority of brokers. The month began with markets retracing the USD moves from late March that had driven most of that month’s profitability. Market conditions became more favorable as the month moved along, but it was still a below average months in terms of PL per million. Overall, volumes were down from recent months, in part due to depressed volatility in the days surrounding the Easter holiday.