Doo Group Reports Record Trading Volume in August 2024
Doo Group, a pre-eminent financial services group with FinTech as its core, recently released its August 2024 trading volume report.
August Trading Volume Overview 2024
-Total Trading Volume: USD 156.11 billion
-Most Popular Products: XAU/USD, EUR/USD, US30
-XAU/USD saw the highest trading volume at USD 110.17 billion.
-XAU/USD saw the highest increase, an increase of USD 15.30 billion, or 16.10%
According to the report, Doo Group’s total trading volume in August 2024 is valued at USD 156.11 billion, an increase of 22.01% from the previous month. Furthermore, August’s average daily volume (ADV) is USD 5.04 billion, a rise of 22.01% from July.
The financial market has been volatile in August. Due to the weak US unemployment rate triggering the Sahm rule and Japan’s central bank interest rate hikes, the global market experienced “Black Monday” in the beginning of August. This has caused risk aversion to rise, leading to investors seeking a safe haven in the market. In late August, Jeremy Powell, the Fed Chairman, hinted at the interest rate cut in September, causing the market to rally.
Despite that, traders have been actively trading in the month of August, and XAU/USD continues to become the product with the largest trading volume and highest growth.
Doo Group continued its rally in trading volume from July and poised a rise in August. Year to date, Doo Group’s total trading volume is valued at USD 854.60 billion, an expansion of 35.23% as compared to the same period last year.
According to the recorded data, XAU/USD, EUR/USD, and US30 were the investor’s top picks, contributing 87.07% of August’s total trading volume. Among them, XAU/USD has the highest monthly trading volume at USD 110.17 billion; while EUR/USD and US30 have a total monthly volume of USD 25.75 billion.
Besides, XAU/USD has the largest growth in the monthly trading volume, an increase of USD 15.30 billion or 16.10% as compared to July.
As an internationally leading financial services group, Doo Group continues to show strong momentum in its trading volume. In the future, Doo Group will continue to develop a global FinTech system and build a comprehensive financial ecosystem. We strive to lead the FinTech transformation in this era, ensuring that our clients are at the forefront of the industry.
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