Forex market hours easter
How do I fund my account? Home Products What you can trade Market trading times. Changes to market trading hours. View the updated times for affected instruments below. February Next Generation. Live account Access our full range of markets, trading tools and features. Open a live account Losses can exceed your deposits. Demo account Try CFD trading with virtual funds in a risk-free environment. Open a demo account. These can be big currency movers as they are generally responsible for setting Interest rates in those countries, and as mentioned above interest rate announcements can cause large movements.
There will be times where a currency is moving differently from normal. This is a good time to stay out of the market. This is generally bad news and the market is still unsure as to how to react to it. For instance, this was happening during the recent credit crunch and the various Banks reporting that they were having major difficulties. A lot can happen over the weekend.
All it would take is for 1 Bank to go bust over the weekend for your position to go completely different from how you expected… A terrorist attack could happen over the weekend, which would also move the markets crazily. Now these might seem out of the norm but if you look these have happened recently on more than 1 occasion.
These types of events will generally lead to the market opening again will a large gap and generally with a large change in your position. A lot of times this can cause serious harm to your trading account balance. Good idea to avoid these or be wary around these times.
At market close a number of trading positions are being closed. This will lead to volatility in the currency markets and can cause the price to move erratically. The same applies at market open. A lot of people are opening positions as they do not want to hold them over the weekend for the reasons stated above. December and Summer Holidays. Banks tend to trade the Forex markets at least once a day for balance sheet reasons and can also trade a number of times throughout the day for speculation reasons.
When I say balance sheet reasons, I mean to balance out their currency book. They need a certain amount of each currency to meet the demand of their customers, both personal and business, that will need to buy foreign currency from the bank or exchange their foreign currency for their local currency.
Banks have to balance this out each day otherwise they leave themselves open to Foreign exchange risk.