The first week of May may probably present a lethargic market with Japan and China going on holiday mode to the week they call "Golden Week". Golden week is a holiday in both Japan and China - Japanese financial markets are closed for trade from May 3 to May 5. While in May day (aka Labor day) (1st of May) is celebrated by the USA and UK and other countries.
In Japan, Golden Week refers to the period between April 29th and May 5th when many Japanese take time off work and travel. Initiated to celebrate the birth of Japanese emperor Showa, the series of holidays has been celebrated since 1948. It is called Golden Week because of the strong impact on domestic consumption.
China celebrates three Golden Weeks each year, the next beginning on May 1st and called Labor Day Golden Week. These holidays are intended to increase domestic consumption, an ongoing aim in China these days.
May Day is a name for various holidays celebrated on May 1 (or in the beginning of May), ranging from pagan festivals to International Workers' Day, its most famous action.
We recommend trading forex with Easy-Forex.
