Forex trading is a 24/7 market that operates five days a week. This means that currency traders can buy and sell currencies at any time, except on weekends. However, there are certain days when the forex market is closed or partially closed. In this article, we will discuss which days forex is closed and what traders need to know about these holidays.
The forex market is open 24 hours a day, five days a week, from Sunday at 5:00 pm EST (10:00 pm GMT) until Friday at 5:00 pm EST (10:00 pm GMT). This means that traders can trade currencies at any time during the week, except on weekends. However, there are also days when the forex market is closed or partially closed.
The main reason why the forex market is closed or partially closed is due to national holidays. Different countries have different national holidays, and these holidays can impact the forex market. When a country’s markets are closed due to a national holiday, trading volume and liquidity decrease, which can lead to increased volatility and wider spreads.
The following are the major national holidays that impact the forex market:
1. New Year’s Day: New Year’s Day is a global holiday that is celebrated on January 1st. On this day, financial markets around the world are closed, including the forex market.
2. Good Friday: Good Friday is a Christian holiday that is celebrated on the Friday before Easter Sunday. Many financial markets around the world are closed on this day, including the forex market.
3. Easter Monday: Easter Monday is a Christian holiday that is celebrated on the Monday after Easter Sunday. Many financial markets around the world are closed on this day, including the forex market.
4. Labor Day: Labor Day is a national holiday that is celebrated on May 1st in many countries around the world. The forex market is closed in many countries on this day.
5. Memorial Day: Memorial Day is a national holiday that is celebrated on the last Monday in May in the United States. The forex market is closed on this day in the United States.
6. Independence Day: Independence Day is a national holiday that is celebrated on July 4th in the United States. The forex market is closed on this day in the United States.
7. Thanksgiving Day: Thanksgiving Day is a national holiday that is celebrated on the fourth Thursday in November in the United States. The forex market is closed on this day in the United States.
8. Christmas Day: Christmas Day is a global holiday that is celebrated on December 25th. On this day, financial markets around the world are closed, including the forex market.
It is important for traders to be aware of these holidays and their impact on the forex market. During these holidays, liquidity and trading volume can be lower, which can lead to wider spreads and increased volatility. Traders should also be aware of the different time zones and holidays in the countries where they trade to avoid any surprises.
In conclusion, the forex market is open 24 hours a day, five days a week, from Sunday at 5:00 pm EST (10:00 pm GMT) until Friday at 5:00 pm EST (10:00 pm GMT). However, there are certain days when the forex market is closed or partially closed due to national holidays. Traders should be aware of these holidays and their impact on the market to avoid any surprises and to trade with caution during these times.
