Sessions and events
Bank holiday
A public holiday in a market's home country. The instrument may open late, close early or not trade at all, and liquidity in related instruments thins even where they stay open.
GFN’s figure
GFN trading hours can change on public holidays - markets may open late, close early or stay closed. The instrument information inside the platform carries the current schedule.
In detail
Bank holiday,explained
A US holiday drains liquidity from dollar pairs and index instruments even though forex itself technically stays open, which makes spreads wider and moves less reliable.
Holiday sessions are the most common cause of an unexpected fill: the price is real, the book behind it is not what it usually is.
Related
Terms thatcome with it
Most rules only make sense next to the ones they interact with. These are the entries this one depends on.
Market open
The moment an instrument begins trading for a session. Opens concentrate order flow that built up while the market was closed, which is why volatility spikes and spreads take time to settle.
Market close
The end of a trading session for an instrument. Positions held through a close carry gap risk into the next open, and spreads typically widen into the final minutes as liquidity leaves.
Liquidity
How much can be traded at a given price without moving it. Deep liquidity produces tight spreads and reliable fills; thin liquidity produces wide spreads, slippage and gaps.
Slippage
The difference between the price requested and the price filled. It appears when the market moves between order and execution, and it is most pronounced around news and at thin points in the session.
Session overlap
The hours when two trading sessions are open at once. The London-New York overlap, roughly 13:00 to 16:30 UK time, carries the highest volume and the tightest spreads of the day.
Also governed by /rules/trading-hours
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