So far today, traders at eToro have witnessed slow bank holiday Forex trading as both the UK and US markets take an additional day off. Understandably, trading has been a bit thin on the ground and this has led to pretty steady trading conditions across the world’s Forex markets, not really offering many inviting positions to trade.
When the markets are slow they tend to be fairly stagnant, which doesn’t offer many profitable positions for Forex traders. Generally, the busiest, most volatile and most profitable market conditions occur where trading sessions overlap, but with the London and New York markets closed today there will be no overlapping of major market opening hours and therefore less busy trading times.
During the early Monday trading sessions the US dollar has started to regain some of the ground it lost at the end of last week, while the euro was down across the board again. Forex traders at eToro saw the euro trading at $1.4284 against the US dollar this morning, down from $1.4320 towards the end of Friday’s New York trading session. The dollar was also up against the Japanese yen at Y80.84, climbing from its Y80.75 closing price on Friday.
Following today’s bank holiday closures things will be back to normal for Tuesday, with both the London and New York markets back up and running. If you want to trade Forex for yourself you can do so online with eToro. eToro is one of the world’s leading online Forex brokers offering a wide range of instruments to trade, an industry-leading trading platform, great help and support from the Forex community at eToro and a massive welcome Forex bonus of up to $10,000 when you first find your account. To find out more visit www.etoro.com.
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