Doo Group Trading Volume Report in May 2024: XAU/USD Saw the Highest Trading Volume

Last week, Doo Group, a global financial services group, published its Trading Volume Report in May 2024.

According to statistics, Doo Group's total trading volume in May 2024 was $106.53 billion, which is a slight decrease compared to the previous month but still currently ranks second in terms of monthly trading volume for the year. The average daily trading volume for the month was $2.29 billion, down 6.02% compared to April.

Among the various trading products, the most popular are XAU/USD, EUR/USD, and GBP/USD, contributing 88.81% to the month’s trading volume. Though the trading volume of XAU/USD declined, it was still the most traded product for the month, reaching $80.99 billion. And EUR/USD saw the most increase in trading volume for the month which rose 11.26%, or $1.1 billion compared with the previous month.

According to Doo Group, investors' interest in XAU/USD decreased this month mainly because of the better-than-expected performance of the U.S. economic data, which reduced inflationary pressures; European central banks are expected to lower interest rates, and the Euro zone stock indexes rose. These reasons have caused investors' risk aversion to fade, strengthening their risk appetite.

So far, Doo Group's trading volume in 2024 has been relatively stable, totaling $465 billion, an increase of 24.26% year-on-year.