Doo Group May trading volumes drop slightly but remain steady
Doo Group, a conglomerate of several financial services entities including forex and CFDs brokers, has published its trading volume report for May 2024.
Doo Group (Stock Code: D00G), a diversified financial services conglomerate encompassing forex and CFD brokerage, recently released its trading volume report for May 2024.
The report indicates that Doo Group's total trading volume for May was $106.53 billion, showing a slight decrease compared to the previous month. The average daily trading volume in May also saw a reduction compared to April. The most actively traded products were XAU/USD (Gold/USD), EUR/USD (Euro/USD), and GBP/USD (Pound/USD). Among them, XAU/USD had the highest trading volume, reaching $80.99 billion. EUR/USD showed significant growth, increasing by 11.26% compared to April.
The report attributes the slight decline in trading volume to a reduction in investor risk aversion, primarily influenced by better-than-expected U.S. economic data and easing inflationary pressures. Additionally, the expectation of the European Central Bank lowering interest rates boosted Eurozone stock indices, enhancing investor risk appetite, which led to a decreased interest in gold, reflected in the reduced XAU/USD trading volume.
Since the beginning of 2024, Doo Group's trading volume has remained stable. The year-to-date total trading volume has reached $465 billion, showing growth compared to the same period last year.
Previously, Doo Group established a new office in Dubai, UAE, marking its official entry into the Middle Eastern market. This move aims to strengthen the group's presence in the region and seize the growing business opportunities. The decision was also driven by the group's expanding client base in the Middle East. The Dubai office will be staffed with a professional team focused on digital technology, software development, and customer support, dedicated to serving regional clients.
By establishing an office in Dubai, Doo Group demonstrates its strategic intent to expand its global business footprint and provide better service support to clients in the Middle East market. This step not only helps to enhance its market competitiveness locally but also further consolidates its leadership position in the global financial services sector.
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