The foreign exchange market, or Forex, is a decentralized global market where traders exchange currencies. It is the largest and most liquid financial market in the world, with a daily turnover of around $6.6 trillion. The Forex market is open 24 hours a day, five days a week, from Monday to Friday. However, the market hours vary depending on the region and the time zone. In this article, we will discuss what time the Forex market opens in Europe.
Europe is one of the major players in the Forex market. The European session is the second largest trading session after the Asian session, and it accounts for around 28% of the daily Forex trading volume. The European session starts after the Asian session, and it overlaps with the American session.
The Forex market opens in Europe at 8:00 am GMT (Greenwich Mean Time). GMT is the time zone that is commonly used in the financial industry. However, during the summer months, Europe observes Daylight Saving Time (DST), which means that the market opens at 7:00 am GMT. DST starts on the last Sunday of March and ends on the last Sunday of October.
The European Forex market is dominated by London, which is the largest financial center in the world. London accounts for around 43% of the daily Forex trading volume. The London session is the most active session in the Forex market, and it lasts for around 8 hours. The London session starts at 8:00 am GMT and ends at 4:00 pm GMT.
After the London session, the European Forex market continues with the Frankfurt and Zurich sessions. The Frankfurt session starts at 7:00 am GMT and ends at 3:00 pm GMT. The Zurich session starts at 8:00 am GMT and ends at 4:00 pm GMT. However, these sessions are not as active as the London session, and they account for a smaller portion of the daily Forex trading volume.
The European Forex market is affected by various factors, such as economic data releases, central bank announcements, and geopolitical events. Traders need to be aware of these factors and adjust their trading strategies accordingly. For example, a positive economic data release from the Eurozone could lead to a strengthening of the Euro, while a negative economic data release could lead to a weakening of the Euro.
In conclusion, the Forex market opens in Europe at 8:00 am GMT (7:00 am GMT during DST). The European session is the second largest trading session in the Forex market and is dominated by London, which accounts for around 43% of the daily Forex trading volume. Traders need to be aware of the various factors that affect the European Forex market and adjust their trading strategies accordingly.
