The foreign exchange market, also known as forex, is a decentralized market that operates 24 hours a day, five days a week. The market is open from Sunday at 5 PM EST until Friday at 5 PM EST. However, the closing time of the forex market varies depending on the time zone.
In the United States, the forex market closes at 5 PM EST on Friday. This translates to 4 PM Central Time, 3 PM Mountain Time, and 2 PM Pacific Time. It is important to note that during daylight saving time, the market will close an hour later. For example, during daylight saving time, the forex market will close at 6 PM EST, which is 5 PM Central Time, 4 PM Mountain Time, and 3 PM Pacific Time.
The forex market operates 24 hours a day, five days a week because it is a global market that involves different time zones. The market opens on Sunday at 5 PM EST when the markets in Sydney, Australia, open. The market then moves to Tokyo, Japan, and other Asian markets before opening in Europe and then finally closing in New York on Friday at 5 PM EST.
The forex market is the largest financial market in the world, with an average daily trading volume of $5.3 trillion. The market is open to individual traders, financial institutions, and corporations who are looking to buy or sell currencies for various reasons, including speculation, hedging, and international trade.
In addition to the forex market, there are also other markets that operate during different hours, including the stock market and the futures market. The stock market operates from 9:30 AM EST to 4 PM EST, while the futures market operates from Sunday at 6 PM EST to Friday at 5 PM EST.
In conclusion, the forex market closes on Friday at 5 PM EST in the United States, which is 4 PM Central Time. It is important to note that this closing time may vary depending on the time zone and daylight saving time. The forex market operates 24 hours a day, five days a week, and is the largest financial market in the world. Understanding the closing time of the forex market is essential for traders who want to plan their trading strategies and manage their positions effectively.
