Currency Holidays | Settlement Holidays | Bank Holidays

Currency holidays or Settlement Holidays are days in which there is no settlement for prior currency trading transactions. As any one of them or one of central Bank goes on holiday.

Two Business days is the Standard settlement period for most of the currency pairs. But some pairs such as CAD/USD settled in next business day. Currency trader has to remember what are all currency holidays.

MarketWatch Economic Calendar has a significant direct impact on prices but Currency holidays does not have any direct impact on prices

What are Currency Holidays:

The valid settlement date for a Forex transaction is a date when central Banks of both currencies are open for settlements.

If either of the currency has a ‘Bank holidays’ on the target settlement date. Then the settlement is deferred to the next valid business day of both currencies.

In addition to that, intervening holidays, that is a holiday between trade date and the standard two days later may or may not defer settlement, depending on the currency pairs involved. Most of the currencies will not be settled on USD holiday.

This treatment is regardless of whether USD is part of the transaction directly, i.e. an EUR.  JPY currency transaction will not settle on a USD settlement holiday. But It will be deferred to the next valid business day for all three currencies.

Use this information to determine global currency holidays. These holidays may impact completion times for some foreign currency conversions.

How To Use:

Traders with large Forex trading positions should familiarize themselves with the industry standards for FX settlement. As this may have a significant impact on their settled cash balances in the various currencies.

Please note, if your FX transaction(s) involve currencies with different settlement dates, you could incur significant financing and/or carrying costs.

The following table lists upcoming currency holidays for each currency.

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