Forex, or foreign exchange, is a decentralized global market where currencies are traded. It is open 24 hours a day, five days a week, from Monday to Friday. However, the market is not open all the time in every region. The forex market is divided into four major trading sessions – the Sydney session, the Tokyo session, the London session, and the New York session. Each session has its own opening and closing times, and traders need to be aware of these times to make informed trading decisions.
If you are based in Bangkok, Thailand, you need to adjust the forex market’s opening and closing times to your local time. Bangkok is in the Indochina Time (ICT) zone, which is seven hours ahead of Coordinated Universal Time (UTC+7).
The Sydney session, which is the first trading session of the day, opens at 7:00 AM ICT and closes at 4:00 PM ICT. During this session, the Australian dollar (AUD), New Zealand dollar (NZD), and Japanese yen (JPY) are the most actively traded currencies.
The Tokyo session opens at 8:00 AM ICT and closes at 5:00 PM ICT. This session overlaps with the Sydney session for two hours and is known for its high liquidity and volatility. The Japanese yen is the most traded currency during this session.
The London session, which is the most active trading session, opens at 2:00 PM ICT and closes at 11:00 PM ICT. This session overlaps with the Tokyo session for four hours and with the New York session for four hours. The euro (EUR), British pound (GBP), and Swiss franc (CHF) are the most traded currencies during this session.
The New York session, which is the last trading session of the day, opens at 7:00 PM ICT and closes at 4:00 AM ICT the next day. This session overlaps with the London session for four hours and is known for its high liquidity and volatility. The US dollar (USD) is the most traded currency during this session.
It is important to note that the forex market is not open on weekends. The market is closed from 4:00 AM ICT on Saturday to 7:00 AM ICT on Monday. However, some brokers may offer weekend trading in certain markets or currency pairs.
In addition to the four major trading sessions, there are also other trading sessions that traders should be aware of. These include the Frankfurt session, which opens at 1:00 PM ICT and closes at 10:00 PM ICT, and the Hong Kong session, which opens at 1:00 AM ICT and closes at 10:00 AM ICT.
Traders should also be aware of important economic events and news releases that can affect currency prices. These include central bank meetings, employment data, inflation reports, and geopolitical events.
In conclusion, the forex market is open 24 hours a day, five days a week. Traders in Bangkok need to adjust the opening and closing times of the four major trading sessions to their local time. It is important to be aware of these times and to also keep track of important economic events and news releases that can affect currency prices. With this knowledge, traders can make informed trading decisions and potentially profit from the forex market.
