Forex Bank Holiday Calendar

The Forex Bank Holiday Calendar maps market closures across 11 major currency countries (USD, EUR, GBP, JPY, AUD, NZD, CAD, CHF, SGD, HKD, CNY) for 2026–2028. Each holiday is tagged high- or medium-impact with an estimated trading-volume drop for that currency — for example US high-impact −40%, EU −35%, UK −30% — plus the specific pairs affected.

Key Takeaways
  • Covers 11 countries/currencies (USD, EUR, GBP, JPY, AUD, NZD, CAD, CHF, SGD, HKD, CNY) with verified holiday dates for 2026 through 2028.
  • Each high-impact holiday carries an estimated single-day volume drop: US −40%, EU −35%, UK −30%, JP −25%, CH/CN −20%, AU/CA −15%, HK −12%, NZ/SG −10% (medium-impact is roughly half).
  • The Week Ahead panel flags daily liquidity: 3+ major markets closed = 'very thin, avoid trading'; 1+ high-impact = 'reduced, cut size'; medium-only = 'slightly reduced'.
  • The Christmas–New Year window (Dec 23–Jan 2) is the thinnest of the year, with interbank liquidity dropping an estimated 60–80% when centers close simultaneously.
  • Three views (Calendar grid, List table, 90-day Timeline) plus filters for year, month, currency, and impact, and a one-click .ics export for Google, Apple, and Outlook calendars.

Plan around market closures with our comprehensive bank holiday calendar. See which currencies are affected, expected liquidity impact, and get alerts for upcoming holidays.

This Week's Trading Conditions

How to Use the Bank Holiday Calendar

Use the filters above to narrow holidays by year, month, currency, or impact level. Switch between Calendar view (visual month grid), List view (sortable table), and Timeline view (90-day horizon). Click any holiday day to see full details including affected currency pairs and expected volume reduction.

The Week Ahead section at the top gives you a quick daily breakdown of expected liquidity for the next 7 days, with specific recommendations for each day. Export holidays to your calendar app using the .ics button to get reminders before major market closures.

Why Bank Holidays Matter for Forex Traders

Unlike stock exchanges that simply close on holidays, the forex market technically remains open 24 hours a day during the business week. However, when a major financial center observes a bank holiday, the institutional traders and banks in that country step away from the market. This creates a significant drop in volume and liquidity for the affected currency pairs.

Lower liquidity has several practical consequences for traders: wider bid-ask spreads increase your trading costs, slippage becomes more likely on market orders, and price movements can become erratic with sudden spikes or gaps.

Major Holidays That Affect Forex Markets

Christmas and New Year Period

The most impactful period for forex markets runs from approximately December 23 to January 2. Multiple major financial centers close simultaneously, creating the thinnest liquidity of the year. Many institutional desks run skeleton staffing, and interbank liquidity can drop by 60-80%.

Japanese Golden Week (Late April - Early May)

A cluster of 4 national holidays creates an extended closure period for Japanese markets. JPY pairs can see unusual volatility as institutional JPY flows dry up. Historically, sharp yen moves have occurred during Golden Week when thin liquidity amplifies directional pressure.

Chinese New Year (January/February)

Chinese markets close for approximately one week. This affects CNY/CNH pairs directly, but also impacts AUD due to Australia's strong trade relationship with China. Asian session volume drops significantly, and commodity currencies can see unusual moves.

Trading Strategies for Holiday Periods

  • Avoid trading entirely — The safest approach, especially for day traders and scalpers who depend on normal liquidity conditions.
  • Reduce position sizes — If you must trade, cut your normal size by 50-75% to account for potential gaps and slippage.
  • Widen stop losses — Thin markets can spike through tight stops. Allow extra room or use guaranteed stops if available.
  • Focus on unaffected pairs — If only US markets are closed, consider trading EUR/GBP or AUD/NZD which have no USD component.
  • Close before long weekends — Extended holiday weekends create gap risk. Consider closing positions Friday before a Monday holiday.

Forex Gap Risk During Holidays

While forex gaps are relatively rare compared to stocks (due to 24-hour trading), holidays increase gap risk significantly. If important economic data or geopolitical events occur while a major market is closed, the affected currency can gap when that market reopens. The Christmas-New Year period is the highest gap-risk window.

Frequently Asked Questions

Bank holidays reduce liquidity because institutional traders and banks in the affected country are closed. Lower liquidity means wider spreads, increased slippage, and potential for erratic price movements or gaps. While forex technically trades 24/5, the absence of major market participants significantly changes trading conditions.
The forex market technically operates 24/5 regardless of bank holidays, but volume for the affected currency drops significantly. When US banks are closed, USD pairs see 30-40% less volume. Multiple simultaneous closures can reduce overall market volume by 60-80%.
Christmas Day and New Year's Day have the biggest impact because multiple major financial centers are closed simultaneously. The entire period from December 23 to January 2 typically sees the thinnest liquidity of the year.
Not necessarily, but you should be aware of reduced liquidity. Consider widening stop losses to account for potential gaps, reducing position sizes, or avoiding the affected currency pairs entirely. Swing traders with wider stops may comfortably hold through single-country holidays.
Golden Week is a cluster of four national holidays in late April to early May in Japan. Japanese banks and institutions close for most of the week, significantly reducing JPY pair liquidity. Historically, sharp yen moves can occur during this period due to thin order books.
Chinese New Year closes Chinese markets for about a week and also affects Hong Kong and Singapore. CNY/CNH pairs become very illiquid. AUD is also impacted due to strong Australia-China trade ties. Expect reduced Asian session volume across the board.
Spreads typically widen due to reduced liquidity. Major pairs like EUR/USD may see 2-3x normal spreads, while cross pairs and exotics can see 5-10x normal spreads. This significantly increases trading costs.
Yes. Click the "Export .ics" button to download a standard iCalendar file compatible with Google Calendar, Apple Calendar, Outlook, and most other calendar applications. The export respects your current filters.
Holiday dates for 2026-2028 are manually verified against official government and exchange sources. Fixed holidays are straightforward, while variable holidays (Easter, Chinese New Year, etc.) are calculated. We update the data as announcements are made.
The Friday before major US holidays typically sees extremely low volatility. Many institutional traders take extended weekends, creating thin order books and choppy, directionless price action. Experienced traders often mark these as no-trade days.
The calendar covers 11 countries/regions: United States (USD), United Kingdom (GBP), Eurozone/ECB TARGET2 (EUR), Japan (JPY), Australia (AUD), Switzerland (CHF), Canada (CAD), New Zealand (NZD), Singapore (SGD), Hong Kong (HKD), and China (CNY).
High-impact holidays close the country's major exchanges and banks entirely, causing significant volume reduction (20-40%). Medium-impact holidays may result in early market closes or affect fewer market participants, with a more modest volume reduction (5-20%).

Trade with Brokers Offering Tight Holiday Spreads

Holiday spreads vary significantly between brokers. These brokers are known for competitive pricing even during low-liquidity periods.

IC Markets

Raw spreads from 0.0 pips

ECN pricing with deep liquidity pools.

Pepperstone

Razor account spreads

Multiple liquidity providers ensure competitive pricing.

OANDA

No minimum deposit

Transparent pricing with historical spread data.

XM

Guaranteed stop losses

Guaranteed stops protect against holiday gaps.

Broker listings are for informational purposes only. Trading forex carries significant risk.

Related Forex Tools

📅
Economic Calendar
Track high-impact data releases and events
 🕑
Forex Session Clock
See active trading sessions and overlaps
 🔗
Currency Strength Meter
Gauge real-time currency strength before trading
 🔄
Swap Calculator
Estimate overnight rollover costs on positions
Disclaimer: The results from this tool are estimates for educational and informational purposes only and may differ from your broker's figures. This is not financial or investment advice. Trading forex and CFDs carries a high level of risk and can result in the loss of all your capital. Always verify calculations with your broker and trade within your risk tolerance.