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US Holiday Conditions Will Shape Risk from NY to London to Tokyo

US Holiday Conditions Will Shape Risk from NY to London to Tokyo

John Kicklighter,

Talking Points:

• Risk appetite is a communicable and comprehensive market force which lifts and lowers conviction universally

• The US Thanksgiving holiday is only scheduled to take US markets offline, but that likely dampens risk globally

• Major moves like key breaks or reversals from global equity indexes or Yen crosses mark less likely setups

What are the Traits of Successful Traders? See what our studies have found to be the most common pitfalls of retail FX traders.

Investor sentiment spans borders. Frequently a surge or collapse in risk appetite in one major region of the world spills over to the other major sessions. So, when momentum picks up in New York trade, it often carries over to Tokyo and London. This connection coordinates regions and assets as one of the most powerful currents the market has to tap. What's more, this link can also carry profound implications for liquidity. When one of the major markets is offline for a holiday, liquidity can dry up more dramatically than that one region's influence would insinuate otherwise. This is particularly true of the the sway the US ('New York') session has over the world. With the US Thanksgiving holiday on Thursday, traders should reconsider their expectations for near term breakout / reversals / trends that seem so proximate. We discuss the cross-market connections and liquidity drain in today's Strategy Video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.