The Dubai Gold and Commodities Exchange (DGCX) today announced an extension of its trading hours.
From June 4, the Exchange will open from 07:00 (UAE time), 1 hour and 30 minutes earlier than its previous opening time. The extended trading time will provide DGCX participants with a 30 minute window before the exchange traded currency derivatives markets open in India.
Commodity and currency futures prices are tightly linked to the prices of their underlying instruments, with futures prices highly sensitive to price movements of the underlying. This makes them much more suitable for �momentum trading' than equities. The 30 minute window between DGCX opening and the Exchange traded currency derivatives market opening in India will allow participants on the DGCX an opportunity to take positions based on overnight indicators, putting them ahead of the momentum curve.
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