I suspect a US Federal holiday perhaps? And so I checked and found this:
It's Washington's Birthday (Feb 18)- a Federal holiday in US.
This is the sort of thing one must watch out for. When a market is closed it will affect liquidity. Low liquidity is bad for Range Traders. The only market now opened is London which is due to close at in about 3 hours time i.e. at 1 am. Then from 1 am to 6 am (Sydney market opens), no market will be opened. This means liquidity will be very low from 1 am to 6 am and I should refrain from opening any positions.
In my country (GMT + 8), the Forex markets opens:
Sydney 6 am
Tokyo 8 am
London 3 pm
NY 9 pm
The period of highest liquidity is when London overlaps with NY, ie. from 9 pm to 12 midnight.
London and NY being the largest and second largest Forex markets respectively.
I recalled that the same thing happened in January 21 - also a Monday. At that time I was also perplexed at NY Forex failure to open. And upon checking, I also discovered that Jan 21 was Martin Luther King Jr's birthday - also a US Federal holiday.
2 comments:
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