Quiet Mondays with an empty calendar: what London tends to do

[Fairman]

Weekend news can surprise on Mondays even with an empty calendar. Elections, policy announcements, geopolitical events or comments from officials over the weekend can make Monday anything but quiet. A quick check of the main headlines before the Asian open helps. If nothing happened, the quiet Monday pattern is more likely to hold. If something did, I'd treat the day like a news day, at least until London has had a chance to digest it and the first big moves are out of the way. A two minute scan of the headlines on Sunday evening is usually enough.

[FXS Prop Desk]

Battle of attrition is a good way to describe those Mondays. One practical consequence: on an empty-calendar Monday, the Friday late range is often the only real reference, so the distance from it matters more than usual. If London opens near the middle of it, there is little to trade until one edge is tested. If it opens near an edge, the first test is usually the cleanest setup of the day. Writing the Friday late high and low on the chart before the weekend, rather than on Monday morning, saves time and avoids redrawing levels after seeing the first move.