The forex market, also known as the foreign exchange market, is the largest financial market in the world with a daily turnover of more than $5 trillion. It is a decentralized market where currencies from all over the world are traded 24 hours a day, five days a week. However, despite its 24/5 availability, the forex market does close for certain holidays.
The forex market operates across different time zones, with major financial centers such as New York, London, Tokyo, and Sydney driving the market. As such, the forex market remains open 24 hours a day from Monday to Friday. However, there are certain holidays where the forex market is closed, and traders cannot execute trades during those times.
The forex market is closed on weekends, which means that traders cannot execute trades on Saturdays and Sundays. However, there are certain holidays throughout the year where the forex market also closes. These holidays vary depending on the country and the financial center in which the trader is located.
In the United States, the forex market is closed on the following holidays:
New Year’s Day: January 1st
Martin Luther King Jr. Day: Third Monday in January
President’s Day: Third Monday in February
Good Friday: Friday before Easter Sunday
Memorial Day: Last Monday in May
Independence Day: July 4th
Labor Day: First Monday in September
Thanksgiving Day: Fourth Thursday in November
Christmas Day: December 25th
It is important to note that the forex market may also close early on certain days leading up to a holiday. For example, the forex market in the United States may close early on the day before Thanksgiving or Christmas Eve.
In the United Kingdom, the forex market is closed on the following holidays:
New Year’s Day: January 1st
Good Friday: Friday before Easter Sunday
Easter Monday: Monday after Easter Sunday
May Day: First Monday in May
Spring Bank Holiday: Last Monday in May
Summer Bank Holiday: Last Monday in August
Christmas Day: December 25th
Boxing Day: December 26th
In Japan, the forex market is closed on the following holidays:
New Year’s Day: January 1st
Coming of Age Day: Second Monday in January
National Foundation Day: February 11th
Vernal Equinox Day: March 20th or 21st
Showa Day: April 29th
Constitution Memorial Day: May 3rd
Greenery Day: May 4th
Children’s Day: May 5th
Marine Day: Third Monday in July
Mountain Day: August 11th
Respect for the Aged Day: Third Monday in September
Autumnal Equinox Day: September 22nd or 23rd
Health and Sports Day: Second Monday in October
Culture Day: November 3rd
Labor Thanksgiving Day: November 23rd
Emperor’s Birthday: December 23rd
In Australia, the forex market is closed on the following holidays:
New Year’s Day: January 1st
Australia Day: January 26th
Good Friday: Friday before Easter Sunday
Easter Monday: Monday after Easter Sunday
ANZAC Day: April 25th
Queen’s Birthday: Second Monday in June
Christmas Day: December 25th
Boxing Day: December 26th
It is important for forex traders to be aware of the holiday schedule for the financial center in which they are trading. The holiday schedule may affect liquidity and volatility in the forex market, and traders may need to adjust their trading strategies accordingly. It is also important for traders to be aware of any early closing times leading up to a holiday, as this may affect their ability to execute trades.
In conclusion, the forex market is closed on certain holidays throughout the year. The holiday schedule varies depending on the country and the financial center in which the trader is located. Traders should be aware of the holiday schedule and any early closing times, as this may affect their ability to execute trades and the liquidity and volatility of the forex market.
