Using a 3D GCM, we create dynamical model atmospheres of a representative transiting giant exoplanet, HD 209458b. We post-process these atmospheres with an opacity code to obtain transit radius spectra during the primary transit. Using a spectral atmosphere code, we integrate over the face of the planet seen by an observer at various orbital phases and calculate light curves as a function of wavelength and for different photometric bands. The products of this study are generic predictions for the phase variations of a zero-eccentricity giant planets transit spectrum and of its light curves. We find that for these models the temporal variations in all quantities and the ingress/egress contrasts in the transit radii are small ($< 1.0$%). Moreover, we determine that the day/night contrasts and phase shifts of the brightness peaks relative to the ephemeris are functions of photometric band. The $J$, $H$, and $K$ bands are shifted most, while the IRAC bands are shifted least. Therefore, we verify that the magnitude of the downwind shift in the planetary ``hot spot due to equatorial winds is strongly wavelength-dependent. The phase and wavelength dependence of light curves, and the associated day/night contrasts, can be used to constrain the circulation regime of irradiated giant planets and to probe different pressure levels of a hot Jupiter atmosphere. We posit that though our calculations focus on models of HD 209458b similar calculations for other transiting hot Jupiters in low-eccentricity orbits should yield transit spectra and light curves of a similar character.
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