What holidays is the forex market closed in 2025?

For traders wondering what holidays is the forex market closed, the answer isn’t always straightforward. Spot forex technically runs 24/5, but global holidays in major financial centers like the US, UK, Japan, and Australia significantly affect liquidity and spreads.

FX futures, on the other hand, follow strict exchange holiday schedules. Knowing these dates and their impact helps traders prepare for thin markets, avoid unnecessary risks, and adjust strategies effectively.

Key takeaways:

• The answer to what holidays is the forex market closed varies: spot forex stays open 24/5, but liquidity drops sharply on global holidays.
• FX futures follow strict exchange holiday schedules, with full closures or early closes on major dates like New Year and Christmas.
• Bank holidays reduce liquidity, widen spreads, and increase execution risks, especially in USD, EUR, JPY, and AUD pairs.
• Traders should check broker updates for close-only sessions, early closures, and rollover adjustments.
• Planning ahead and adjusting risk management during thin-liquidity periods helps avoid slippage and unpredictable volatility.

1. What does “closed” mean in forex trading?

“Closed” in forex trading varies depending on the type of market and context:

• Spot forex: Decentralized and over-the-counter, spot forex trades 24 hours a day from Sunday evening to Friday evening (UTC). It doesn’t fully close on holidays but experiences thin liquidity and wider spreads when banks in major financial hubs observe holidays.
• FX futures: These are exchange-traded products with fixed hours and formal market closures on holidays, as outlined by exchanges like the CME Group.
• Market closed situations include:

• Bank holidays: When banks close, liquidity thins, leading to less market depth and potential price volatility.
• Exchange holidays: Futures and CFDs are halted entirely, meaning no trades can be executed during those times.
• Broker-specific restrictions: Some brokers impose “close-only” trading or early closes around holidays to manage risk.

The impact of these closures is noticeable in order execution, with potential price gaps, increased spreads, and altered rollover (swap) timings. For instance, CME FX futures’ schedules provide clear examples of how US holidays translate into market halts or adjusted hours. Traders often receive broker notifications about restricted trading, underscoring the importance of awareness.

2. Major global holidays when forex market is closed or impacted (2025)

For traders asking what holidays is the forex market closed, the answer depends on each region’s official calendar. In 2025, major events like New Year, Christmas, Golden Week in Japan, or China’s Lunar New Year will either fully close FX futures or severely thin spot forex liquidity.

Knowing these dates in advance helps traders anticipate wider spreads, adjust positions, and prepare for potential volatility across USD, EUR, JPY, AUD, and other key currency pairs.

• United States: New Year’s Day (Jan 1), Martin Luther King Jr. Day (Jan 20), Presidents’ Day (Feb 17), Good Friday (Apr 18), Memorial Day (May 26), Juneteenth (Jun 19), Independence Day (Jul 4), Labor Day (Sep 1), Thanksgiving Day (Nov 27), Christmas Day (Dec 25). Spot FX liquidity is very thin or impaired on these days, with FX futures formally closed or halted.
• United Kingdom/Eurozone: Good Friday (Apr 18), Easter Monday (Apr 21), Christmas (Dec 25), Boxing Day (Dec 26), and May Bank Holidays (May 5, May 26). Spot liquidity thins considerably, especially for GBP and EUR pairs.
• Japan: New Year (Jan 1-3), Golden Week (Apr 29-May 5), Respect for the Aged Day (Sep 15). These induce thin liquidity on JPY pairs; FX futures observe official closures on some days.
• Australia: Australia Day (Jan 26), ANZAC Day (Apr 25), Queen’s Birthday (Jun 9). Sydney session liquidity is affected, influencing AUD and NZD pairs.
• Other notable markets: Hong Kong/China’s Lunar New Year (Feb 8-14), China’s Golden Week (Oct 1-7). Spot forex is thin; local futures markets are typically closed.

Partial closures may refer to shortened trading hours, while “very thin liquidity” indicates lower trading volumes and wider spreads, making executions more challenging.

3. What holidays is the forex market closed? 2025 forex holiday calendar

Traders often ask what holidays is the forex market closed, since forex technically runs 24/5. In reality, liquidity drops sharply or markets shut entirely during major global holidays such as New Year, Christmas, and Thanksgiving in the U.S., Golden Week in Japan, or Lunar New Year in Asia.

Knowing these closures and thin-liquidity periods helps traders anticipate risks, avoid costly mistakes, and plan strategies more effectively.

Date (UTC / ET)	Holiday name	Affected regions	Spot FX status	FX futures status	Notes
Jan 1 (Wed)	New Year’s Day	US, EU, UK, JP, AU, CN	Very thin / Impaired	Closed (CME)	Global holiday, wide spreads, no US futures trading
Jan 20 (Mon)	Martin Luther King Jr. Day	US	Thin	Closed (CME)	USD pairs less liquid, futures halt
Feb 8–14 (Sat–Fri)	Lunar New Year	CN, HK, SG	Very thin (CN/HK)	Closed (local)	CN/HK markets shut, CNH liquidity low
Feb 17 (Mon)	Presidents’ Day	US	Thin	Closed (CME)	Light USD liquidity
Apr 18 (Fri)	Good Friday	US, UK, EU, AU	Very thin	Closed (CME, EU)	Global Christian holiday, most Western futures shut
Apr 21 (Mon)	Easter Monday	UK, EU, AU	Thin	Partial/Closed	GBP/EUR liquidity low
Apr 29 – May 5	Golden Week	Japan	Very thin (JPY)	Closed (some)	Major JPY liquidity drain
May 5 (Mon)	Early May Bank Holiday	UK	Thin	Partial/Closed	GBP liquidity reduced
May 26 (Mon)	Memorial Day / Spring Bank Holiday	US, UK	Thin	Closed (US)	USD & GBP pairs impacted
Jun 9 (Mon)	Queen’s Birthday	Australia	Thin (AUD/NZD)	Normal	Sydney session affected
Jun 19 (Thu)	Juneteenth	US	Thin	Closed (CME)	US holiday
Jul 4 (Fri)	Independence Day	US	Very thin	Closed (CME)	Sharp drop in USD liquidity
Sep 1 (Mon)	Labor Day	US, CA	Thin	Closed (CME)	USD & CAD pairs affected
Sep 15 (Mon)	Respect for the Aged Day	Japan	Thin (JPY)	Normal	Lighter Tokyo session
Oct 1–7 (Wed–Tue)	China Golden Week	China, HK	Very thin (CNH)	Closed (local)	CNH illiquid, Asia FX muted
Nov 27 (Thu)	Thanksgiving Day	US	Very thin (USD)	Closed (CME)	Often pre-holiday volatility
Dec 25 (Thu)	Christmas Day	Global (US, UK, EU, JP, AU)	Impaired	Closed (CME)	Global low liquidity, wide spreads
Dec 26 (Fri)	Boxing Day	UK, EU, AU	Very thin	Partial/Closed	GBP, EUR, AUD pairs thin

4. Regional breakdown: Market closures and effects by country

While the forex market operates globally, the impact of holidays differs from one region to another. Each country’s banking system and exchange schedule can create unique liquidity challenges, affecting specific currency pairs.

Understanding these regional nuances whether it’s the U.S. shutting FX futures on federal holidays or Japan’s Golden Week draining JPY liquidity helps traders anticipate volatility and adjust their strategies accordingly.

4.1. United States

• Key holidays like Thanksgiving and Christmas shut FX futures on CME.
• Spot forex liquidity thins, especially in USD pairs.
• Volatility tends to spike before closure as markets adjust.

4.2 United Kingdom and Eurozone

• Local bank holidays reduce GBP and EUR pair liquidity.
• European FX futures observe scheduled holidays; spot market remains open but thin.

4.3. Japan

• Golden Week is a major liquidity drain for JPY pairs.
• Bank holidays cause reduced activity, impacting price stability.

4.4. Australia

• Sydney session holidays lead to thinner volumes in AUD and NZD.
• Spot Forex remains open but less liquid.

4.5. Other regions (China, Hong Kong, Canada)

• Lunar New Year and Golden Week halt local futures markets, reduce spot liquidity.
• Canada’s statutory holidays impact CAD pairs, notably exchange-traded products.

Broker-specific restrictions may vary by region, often reflecting local holiday observances.

5. How do bank holidays affect forex liquidity and spreads?

Bank holidays cause a chain reaction in forex liquidity because major financial institutions close their dealing desks. This leads to a sharp decline in market participants and available liquidity, which has several effects:

• Thinner Liquidity: Fewer market makers and traders create less depth, increasing market vulnerability.
• Wider Spreads: Bid-ask spreads often widen drastically, raising transaction costs.
• Volatility: Price swings can become unpredictable due to limited opposing orders.
• Execution Risks: Higher chances of slippage, delayed order fills, and gaps at holiday open or close.

For instance, in 2025, spreads have historically expanded during New Year and Christmas periods times when traders must exercise caution due to increased risk of erratic price moves.

6. Practical guidance: Trading around major forex holidays

Knowing what holidays is the forex market closed is only the first step traders also need practical strategies to navigate these periods. Major holidays often bring thin liquidity, wider spreads, and unexpected volatility, making it crucial to adjust order types, manage rollovers, and follow broker updates.

By preparing ahead of time, traders can minimize risks and trade more confidently during challenging market conditions.

• Avoid trading on major holidays: Especially during US, UK, and Japanese holidays when liquidity is known to be thin.
• Use limit orders: Reduce the risk of slippage by avoiding market orders during low liquidity periods.
• Manage rollovers and swaps: Account for triple swap days, often occurring on the Wednesday before major holidays, to manage overnight costs effectively.
• Check broker updates: Stay informed about broker-imposed restrictions like “close-only” sessions or early closes.
• Adjust risk management: Tighten stop losses or reduce position sizes during thin liquidity to mitigate volatility risk.

For example, around Christmas and New Year in 2025, traders should anticipate altered rollover timings and potential widened spreads, adjusting strategies accordingly.

7. Definitions: Key forex market holiday terms

• Early close: A shortened trading day with markets closing earlier than usual.
• Thin liquidity: Reduced market participation causing fewer available buyers and sellers.
• FX spot: The decentralized market where currency pairs trade continuously, outside formal exchange hours.
• FX futures: Exchange-traded contracts with fixed trading hours and holidays.
• Settlement: The process of finalizing a trade, normally occurring on T+2 in forex.
• Rollover: The process of extending the settlement date, involving swap fees or credits.
• Holiday observance: The day a market recognizes and applies a holiday, which may differ if the official date falls on a weekend.

8. FAQ: Common questions about forex market closures

8.1. Is forex ever fully closed on a holiday?

While spot forex generally remains open 24/5, liquidity may be so thin that effective trading is near impossible, and FX futures exchanges may fully close.

8.2. Can I trade spot forex on Good Friday or Christmas?

Yes, but expect very thin liquidity and wider spreads; many brokers may restrict available instruments or impose close-only sessions.

8.3. Are FX futures closed on US holidays?

Yes, exchanges like CME close FX futures markets on US federal holidays.

8.4. Why do brokers show “close only” sessions?

To manage risk during low liquidity periods, brokers may limit trading to closing positions only, preventing new trades.

8.5. Are economic data releases rescheduled for holidays?

Some key releases are postponed, while others may proceed; traders should confirm schedules to avoid surprises.

8.6. Which holidays have the greatest market impact?

New Year, Christmas, Thanksgiving, Good Friday, and major national holidays in key financial centers have the strongest effects on liquidity and volatility.

8.7. How does roll timing change on a holiday week?

Rollover timing may shift, often moved earlier to pre-holiday days, and swaps can be larger due to triple swap adjustments.

Understanding what holidays is the forex market closed is essential for every trader who wants to avoid unnecessary risks and plan smarter strategies. Holidays like New Year, Christmas, or regional bank closures often reduce liquidity, widen spreads, and alter rollover timings.

By preparing in advance and following reliable resources such as webtaichinh, you’ll be better equipped to manage volatility and maintain consistency in your trading journey.

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