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What's going on with Swap (long & short)?

If you look at the swap page:

you can see that quite all the pairs have zero for swap (both long and short)… only USDYEN has a “normal” situation. Two days ago was the opposite (only USD YEN had a zero swap).
I don’t understand what’s going on… maybe a Christmas present? :grin:

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Hi @GAlbano76,

This is no present, sorry. As explained in our post on Christmas trading hours last week, during the Cristmas and New Year holiday period spreads may widen and swaps may be affected by the ‘turn’ effect.

The ‘turn’ effect is a phenomenon that exists in financial markets which is caused by supply and demand for funding over key dates such as year or quarter-end. This can create anomalies in the forward curves for certain currencies, and we are already beginning to see this priced into the year-end swap points that we receive from our liquidity providers.

Happy New Year everyone!


Hi Ignacio!

Thanks for replying so early: what I find odd is that with supply and demand anomalies I was expecting more swap or at least strange swap but not a “non swap” situation like know. In this way it feel like a present if you are long EUR vs USD (or anything against USD). :smiley:

20-21/12 was triple swap, but 3-4/01 was single! In MT4 specification I see “Thurthday”, but on your website “Wednesday”… Are you kidding? When are going to stop changing triple swap day?
How to understand which day you or your LP will going to calculate triple swap?

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