Question about Bank holidays | Forex Factory

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Question about Bank holidays

  • #1
  • First Post: Edited 1:12pm Nov 8, 2010 12:55pm | Edited 1:12pm
I Noticed on Nov-11 there is a bank holiday for USA, Canada and France.

Does this mean their currencies or any currency pairs with their currency in them will not be traded anywhere in the world on Nov-11?
  • #2
  • Nov 8, 2010 2:13pm Nov 8, 2010 2:13pm
Usd will still be traded just low volatility, Not too much movement. But I have also seen many currencies correct them selves on holidays and Sundays.
  • #3
  • Nov 8, 2010 9:48pm Nov 8, 2010 9:48pm
Quoting jfxnc
Usd will still be traded just low volatility, Not too much movement. But I have also seen many currencies correct them selves on holidays and Sundays.
Thanks, was not sure how that all works.
  • #4
  • Nov 9, 2010 1:55am Nov 9, 2010 1:55am
It's amazing how people respond to questions without answering them.

When it's a bank holiday, it means the banks are closed in that country. It also means that most of the investment houses, hedge funds, etc are also closed. Therefore, most, if not all, of the major players in the market are not trading that day. It doesn't mean that the currency is not trading, because anyone anywhere can trade any currency they want at any time.
  • #5
  • Nov 9, 2010 6:00am Nov 9, 2010 6:00am
Also concerning holiday's, watch out for any changes to rollover. When there's a holiday, there's typically no rollover on that day, but it's rather added into a previous day's rollover.
  • #6
  • Nov 9, 2010 6:09am Nov 9, 2010 6:09am
Liquidity can get quite thin when banks of a certain country are closed. Sometimes big money will enter the market to push a pair a certain direction. Sometimes just long enough to make it appear like a "stop hunt" but actually they do it to "pump and dump".

market rises fast / then falls back OR market falls fast then rises back.

Because liquidity is thin it doesn't take as much to move the market.

If the pair in question is near support or resistance lines the push can ignite a move because of straddles positioned on both sides of price looking for a breakout. So just because banks are closed doesn't mean you can't see some serious moves.
  • #7
  • Nov 9, 2010 3:19pm Nov 9, 2010 3:19pm
Quoting pip_seeker
Liquidity can get quite thin when banks of a certain country are closed. Sometimes big money will enter the market to push a pair a certain direction. Sometimes just long enough to make it appear like a "stop hunt" but actually they do it to "pump and dump".

market rises fast / then falls back OR market falls fast then rises back.

Because liquidity is thin it doesn't take as much to move the market.

If the pair in question is near support or resistance lines the push can ignite a move because of straddles positioned on both sides of...
Thanks everyone for all that input. I was wondering about all that and it seems that on bank holidays it could just be a good time to only scalp during all the swings. Seems there is more than one way to make a buck with Forex, but it sure is hard to get a good system going and perfected.
  • #8
  • Nov 9, 2010 4:01pm Nov 9, 2010 4:01pm
Quoting klrman
Thanks everyone for all that input. I was wondering about all that and it seems that on bank holidays it could just be a good time to only scalp during all the swings. Seems there is more than one way to make a buck with Forex, but it sure is hard to get a good system going and perfected.
Bank holidays are a good time to do something other than trading.
  • #9
  • Last Post: Nov 9, 2010 5:45pm Nov 9, 2010 5:45pm
Quoting Dopey
Bank holidays are a good time to do something other than trading.
Oops, I forgot about the low liquidity in general during bank holidays.
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