Will London be open on Monday? | Forex Factory

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Will London be open on Monday?

  • #1
  • First Post: Aug 23, 2008 7:35pm Aug 23, 2008 7:35pm
Quick question...
I'm not sure, but doesn't the U.K. have a holiday on Monday, 25th August?
This could influence liquidity during this session.
  • #2
  • Aug 23, 2008 7:59pm Aug 23, 2008 7:59pm
Doesn't look like it:

All Day GBP http://www.forexfactory.com/images/m...ct_holiday.gif Holiday: Summer Bank Holiday


UK banks will be closed in observance of the Summer Bank Holiday. Low liquidity is expected for the London Forex session.
  • #3
  • Aug 23, 2008 8:01pm Aug 23, 2008 8:01pm
Hmm...

Session Inactive
Begins Mon. 3:00am
(in 29 hr 58 min)
  • #4
  • Aug 23, 2008 9:45pm Aug 23, 2008 9:45pm
I believe today is saturday (in America at least)

Also, simply because there is a bank holiday doesn't mean that there is no trading. There is merely lower liquidity.
  • #5
  • Aug 23, 2008 10:55pm Aug 23, 2008 10:55pm
True. It's just that FF usually makes note of this...
  • #6
  • Aug 23, 2008 10:57pm Aug 23, 2008 10:57pm
Check the calendar.
  • #7
  • Aug 24, 2008 6:21am Aug 24, 2008 6:21am
I won't be entering any trades tomorrow.
  • #8
  • Aug 24, 2008 8:25am Aug 24, 2008 8:25am
Quoting Ronald Raygun
Check the calendar.
I know. I meant the front page.
  • #9
  • Aug 24, 2008 9:44am Aug 24, 2008 9:44am
just as a note, in the last months some nice actions happened when a session was closed. Anyway, tomorrow only London is closed, not the whole European session...
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
  • #10
  • Aug 24, 2008 11:21am Aug 24, 2008 11:21am
It's true that those actions were huge, but what caused those actions?
And more importantly, could you have taken advantage of them? I saw a lot of gaps in the 1M chart whenever an exchange is closed for a day. Gaps generally mean unpredictable markets.
  • #11
  • Aug 24, 2008 11:32am Aug 24, 2008 11:32am
WASHINGTON (AP) -- Federal regulators on Friday shut down Columbian Bank and Trust Co. in Kansas, which was struggling with losses on soured real estate loans. It was the ninth failure this year of a federally insured bank.
The Federal Deposit Insurance Corp. was appointed receiver of the bank, located in Topeka, Kansas. It had $752 million in assets and $622 million in deposits as of June 30.
The FDIC did not give a reason for the closure, but Columbian reported $92 million in delinquent loans in the second quarter, citing a "volatile real estate market." The bank set aside $9.2 million for loan losses in the first quarter.
Columbian has said that five borrowers represented nearly half the $92 million in problem loans. Many of its troubled loans were in construction and development.
The FDIC said the bank's deposits will be assumed by Citizens Bank and Trust of Chillicothe, Missouri. Its nine offices will reopen Monday as branches of Citizens Bank.
Depositors of Columbian Bank will continue to have full access to their deposits, the agency said.
The nine failures so far this year compare with three for all of 2007, and federal banking officials have said that more banks are in danger of collapse.

sthat was out today on cnn 9 down how many to go rebound for eur/gbp ?http://www.forexfactory.com/images/icons/icon5.gif
  • #12
  • Aug 24, 2008 12:03pm Aug 24, 2008 12:03pm
Quoting lifeismine
WASHINGTON (AP) -- Federal regulators on Friday shut down Columbian Bank and Trust Co. in Kansas, which was struggling with losses on soured real estate loans. It was the ninth failure this year of a federally insured bank.
The Federal Deposit Insurance Corp. was appointed receiver of the bank, located in Topeka, Kansas. It had $752 million in assets and $622 million in deposits as of June 30.
The FDIC did not give a reason for the closure, but Columbian reported $92 million in delinquent loans in the second quarter, citing a "volatile real estate market." The bank set aside $9.2 million for loan losses in the first quarter.
Columbian has said that five borrowers represented nearly half the $92 million in problem loans. Many of its troubled loans were in construction and development.
The FDIC said the bank's deposits will be assumed by Citizens Bank and Trust of Chillicothe, Missouri. Its nine offices will reopen Monday as branches of Citizens Bank.
Depositors of Columbian Bank will continue to have full access to their deposits, the agency said.
The nine failures so far this year compare with three for all of 2007, and federal banking officials have said that more banks are in danger of collapse.

sthat was out today on cnn 9 down how many to go rebound for eur/gbp ?http://www.forexfactory.com/images/icons/icon5.gif
I fail to see the connection between a bank failing in the US and whether or not London is open tomorrow, or what effect this banks failing will have on eur/gbp. What are you getting at?
  • #13
  • Last Post: Aug 24, 2008 7:51pm Aug 24, 2008 7:51pm
LSE will be closed all day today, August 25th:

http://www.londonstockexchange.com/e.../businessdays/

I am seeing some really wide spreads occasionally on my broker's platform (IB), up to 8 pips. Cable is already down huge; I wonder how much lower it will be taken during European hours today due to low liquidity...
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