The forex market, also known as the foreign exchange market, is a global market that operates 24 hours a day, five days a week. However, there are times when the forex market is closed due to holidays observed by various countries around the world. This article will explain when the forex market is closed during holidays and how it affects forex traders.
The forex market is a decentralized market, which means that it operates through a network of financial institutions, brokers, and traders. As a result, it is open for trading around the clock, except on weekends. The forex market opens on Sunday at 5 pm EST and closes on Friday at 5 pm EST.
However, the forex market is closed during certain holidays observed by different countries around the world. During these holidays, the trading volume in the forex market falls significantly, leading to lower liquidity and higher volatility.
Here are the major holidays when the forex market is closed:
New Year’s Day
New Year’s Day is celebrated on January 1st, and it is a public holiday in most countries around the world. As a result, the forex market is closed on this day.
Martin Luther King Jr. Day
Martin Luther King Jr. Day is observed on the third Monday of January in the United States. The forex market is closed on this day.
Presidents’ Day
Presidents’ Day is observed on the third Monday of February in the United States. The forex market is closed on this day.
Good Friday
Good Friday is a Christian holiday that commemorates the crucifixion of Jesus Christ. It is observed on the Friday before Easter Sunday. The forex market is closed on this day.
Easter Monday
Easter Monday is observed on the day after Easter Sunday. It is a public holiday in many countries around the world, including Australia, Canada, and the United Kingdom. The forex market is closed on this day.
May Day
May Day is also known as International Workers’ Day and is celebrated on May 1st. It is a public holiday in many countries around the world, including China, France, Germany, and Russia. The forex market is closed on this day.
Memorial Day
Memorial Day is observed on the last Monday of May in the United States. The forex market is closed on this day.
Independence Day
Independence Day is celebrated on July 4th in the United States. The forex market is closed on this day.
Labor Day
Labor Day is observed on the first Monday of September in the United States. The forex market is closed on this day.
Thanksgiving Day
Thanksgiving Day is celebrated on the fourth Thursday of November in the United States. The forex market is closed on this day.
Christmas Day
Christmas Day is celebrated on December 25th and is a public holiday in most countries around the world. The forex market is closed on this day.
Boxing Day
Boxing Day is observed on December 26th and is a public holiday in many countries around the world, including Australia, Canada, and the United Kingdom. The forex market is closed on this day.
It is important to note that the forex market may also experience reduced trading activity during other holidays, such as national holidays and religious holidays, depending on the country or region. Traders should be aware of these holidays and take them into account when planning their trades.
In conclusion, the forex market is closed during certain holidays observed by different countries around the world. These holidays can affect the liquidity and volatility of the market, leading to potential trading opportunities or risks. It is important for forex traders to be aware of these holidays and adjust their trading strategies accordingly.
