The forex market, also known as the foreign exchange market, is a global marketplace for trading currencies. With traders from all around the world, the forex market operates 24 hours a day, five days a week. However, there are a few times throughout the year when the market closes for various holidays or events. One of these holidays is Veterans Day.
Veterans Day is a federal holiday in the United States that honors those who have served in the U.S. Armed Forces. It is observed on November 11th each year, and it is a day off for most government offices, schools, and businesses in the country. The forex market also recognizes this holiday and typically closes for the day.
So, when does the forex market close on Veterans Day? The answer to this question depends on the specific forex market you are trading in. There are three primary forex markets: the New York market, the London market, and the Tokyo market. Let’s take a closer look at each of these markets and when they close on Veterans Day.
The New York Market
The New York market is the largest forex market in the world, accounting for approximately 19% of all forex transactions. It is also the market that most traders in the United States use. The New York market operates from 8:00 a.m. to 5:00 p.m. Eastern Standard Time (EST) Monday through Friday. On Veterans Day, the New York market will be closed, meaning that trading will not be possible during these hours.
The London Market
The London market is the second-largest forex market in the world, accounting for approximately 43% of all forex transactions. It is the market that most traders in Europe use. The London market operates from 3:00 a.m. to 12:00 p.m. EST Monday through Friday. On Veterans Day, the London market will be open for trading during these hours. However, it is worth noting that there may be reduced liquidity in the market due to the closure of the New York market.
The Tokyo Market
The Tokyo market is the third-largest forex market in the world, accounting for approximately 19% of all forex transactions. It is the market that most traders in Asia use. The Tokyo market operates from 7:00 p.m. to 4:00 a.m. EST Monday through Friday. On Veterans Day, the Tokyo market will be open for trading during these hours. However, it is worth noting that there may be reduced liquidity in the market due to the closures of the New York and London markets.
It is important to note that even though the forex market may be closed for trading on Veterans Day, traders can still place orders to be executed when the market reopens. These orders can be placed through a broker’s platform, and they will be executed as soon as the market reopens.
In conclusion, the forex market is closed on Veterans Day for the New York market, while the London and Tokyo markets remain open. However, traders should be aware that there may be reduced liquidity in these markets due to the closure of the New York market. It is also important to note that traders can still place orders to be executed when the market reopens, even if it is closed for trading on Veterans Day. As always, it is essential to stay informed and up-to-date with any changes or closures in the forex market to make informed trading decisions.
