Futures vs FX Volume
If we’re trading 20,000 contracts at 9:00 AM, that might be average volume or even a bit below. That same volume at noon would be quite high. Knowing typical volume at each time period and how much volume we’re currently getting helps us infer likely movement, which is really a function of institutional participation.
If I’m an active trader in the Euro currency and need to ascertain likely opportunity in my market, I would be wise to track the Euro futures contract.
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