The forex market, also known as the foreign exchange market, is the largest and most liquid financial market in the world. It operates 24 hours a day, five days a week, with trading sessions starting at 5 PM EST on Sunday and ending at 5 PM EST on Friday. However, there are times when the forex market is closed, and traders need to know when it will reopen.
In general, the forex market closes for two main reasons: weekends and holidays. Let’s take a closer look at each of these factors.
Weekends
The forex market is closed on weekends, which means that trading ceases after the New York session on Friday and resumes with the Asian session on Sunday. This is because the forex market operates on a global scale, and different time zones mean that when some markets are closed, others are open.
For example, when the New York session closes at 5 PM EST on Friday, it’s already 10 PM in London, and the Asian session has already started at 7 PM in Tokyo. Therefore, the forex market never really closes, but rather, it transitions from one session to another.
Holidays
The forex market also closes for various holidays around the world. These holidays can be country-specific, such as Independence Day in the US or Diwali in India, or they can be global holidays, such as Christmas or New Year’s Day.
It’s important to note that not all countries observe the same holidays, and some forex markets may be open while others are closed. For example, the US and UK markets may be closed for Christmas Day, but the Japanese market may be open. This means that traders need to pay attention to the holiday schedules of the countries they’re trading in or with.
How to Check When the Forex Market Opens
Traders can easily check when the forex market opens by using a forex market hours tool. These tools are available online, and they provide real-time information on the opening and closing times of the forex market.
One popular forex market hours tool is the Forex Factory website. This website provides a comprehensive calendar of forex market hours, including holidays and trading sessions. Traders can use this tool to plan their trades and stay up to date on any changes in the forex market schedule.
Another way to check when the forex market opens is to use a forex trading platform. Most trading platforms have a clock feature that shows the current time in different time zones. Traders can use this feature to determine when the forex market opens in their local time.
Conclusion
In conclusion, the forex market is open 24 hours a day, five days a week, with trading sessions starting at 5 PM EST on Sunday and ending at 5 PM EST on Friday. However, the forex market closes for weekends and holidays, and traders need to be aware of these closures to plan their trades accordingly.
Traders can check when the forex market opens by using forex market hours tools or forex trading platforms. By staying on top of the forex market schedule, traders can maximize their profits and minimize their risks.
