Forex traders should be aware of the Western Christmas and New Year holiday season because it impacts market opening and, arguably, the market itself.
With 2023 finally ending, it is time to think about year-end trading. As the Forex market is mostly headquartered in London and New York, Forex traders should be aware of the western holiday season of Christmas and New Year because it impacts market opening and, arguably, the market itself. The overlap between the end of the year and the start of a new year is sometimes challenging because December and January can hold some great trading opportunities. Still, you want to refrain from trading in markets with exceptionally low levels of liquidity and volatility.
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So, let us pick through the daily trading calendar, showing the usual hours most brokers will be shut down or closed early, plus some advice about when to trade:
Daily Trading Calendar | ||
Date | Typical Early Closing Time (UTC / GMT) | Advice |
Sunday 24th December 2023 – CHRISTMAS DAY | This is a Sunday when Forex / CFD brokers are closed anyway but often open in New Zealand in the morning. However, this year, the following day, Monday, will be a public holiday almost everywhere, so brokers will not be opening. | There will be no trading today. |
Monday 25th December 2023 –CHRISTMAS DAY | The UK, Canada, Australia, New Zealand, USA, Germany, Italy, and Switzerland celebrate a public holiday, as does almost every European country and the Americas. Practically every broker will be closed today. | There will be no trading today. |
Tuesday 26th December 2023 – BOXING DAY | The UK, Canada, Australia, New Zealand, Germany, Italy, and Switzerland celebrate a public holiday. Many brokers will be closed today, but it will be a trading day in USA markets. | Some Forex / CFD brokers may be open today, but many major markets will be closed, so trading volumes are liable to be thin. It may not be a good idea to trade today. |
Sunday 31st December 2023 – New Year's Eve | This is a Sunday when Forex / CFD brokers are closed anyway but often open in New Zealand in the morning. However, this year, the following day, Monday, will be a public holiday almost everywhere, so brokers will not be opening. | There will be no trading today. |
Monday 1st January 2024 – NEW YEAR’S DAY | Today is a public holiday in the USA, the UK, Australia, Canada, and New Zealand, so almost all brokers will not open. It is a holiday in nearly every European country. | There will be no trading today. |
Tuesday 2nd January 2024 | Normal trading and market conditions resume as the holidays finally come to a complete end. However, New Zealand celebrates a public holiday today so that NZD markets will be closed. | As soon as Tokyo opens for business today, markets will likely burst into life. Direction can be confusing, but volatility and volume are probably high. |
If you are celebrating, enjoy the holiday, and if you are not, try to avoid entering new trades when major markets are thin. Then, we can all enjoy a happy new year in 2024! This is the daily calendar covering the holiday period.Even if you are not in a country that celebrates Christmas, it is probably a good idea to take advantage of it and forget about trading for the entire week until 2nd January. However, if you are trading strongly trending assets, there are often strong rises over the final few days of December.
FAQs
What holidays affect the Forex market?
The two major holidays affecting the Forex market are the Christmas and New Year holidays in December and January and the Easter holiday in late March or early April.
What days is Forex closed?
The retail Forex market is effectively closed on Saturdays and Sundays, and most brokers are also closed fully or partially on major USA and UK holidays such as Christmas Day, Good Friday, and Easter Monday.
Can I trade Forex in December?
Yes, sometimes strong long-term trends go exponential in December due to the year-end effect, so December, except for the holidays around Christmas and New Year, can often be a good time to trade Forex.
When does the Forex market open after Christmas?
Most Forex brokers will reopen on 26th December 2023 at about 9:30 am New York time.
Is the Forex market closed on Christmas?
Yes, Forex markets are effectively closed on Christmas Day, as almost every country is on holiday, so practically no Forex brokers open this day.
Are there holidays in Forex?
Most Forex brokers are closed on major USA and UK holidays like Christmas Day, Good Friday, and Easter Monday.
Should you trade during Christmas?
No, it is probably a bad idea to trade during Christmas, even if you use one of the few brokers that open over Christmas, as liquidity tends to be extremely thin, bringing very high spreads and little directional movement to profit from.
