This is just a quick heads up for traders before we get too far into the new trading week. If you're wondering why European markets seem to be opening a little later than usual today, well it is because we're back to that time of the year again.
Daylight saving time ended across most of Europe over the weekend, with clocks moving back one hour on Sunday, 25 October. That means the UK is now back on GMT time, while much of continental Europe has switched to CET time.
For those of you trading from outside Europe, particularly in Asia, this means European market openings and economic data releases will now arrive one hour later on your local clock. For example, the London stock market will now open at 16:00 in Singapore and Hong Kong instead of 15:00 previously.
But here's the other little wrinkle to keep in mind. The US hasn't made the switch just yet.
US clocks will only move back on Sunday, 1 November. So for this week at least, the time difference between London and New York is temporarily four hours instead of the usual five hours. That also means a longer overlap between London and New York trading sessions this week, something worth keeping in mind for those watching forex liquidity around the US market open.
Anyway, there's nothing particularly dramatic here. It is just one of those small calendar changes that can easily catch traders off guard. So, let this be a friendly reminder to double-check your economic calendars, market opening times and trading schedules before jumping into the action this week.
This article was written by Justin Low at investinglive.com.
Source: Investing Live - News
