The forex market is the largest and most liquid financial market in the world, with a daily turnover of over $5 trillion. It is open 24 hours a day, five days a week, which makes it a highly accessible market for traders worldwide. However, the forex market does not open or close at the same time globally. The opening and closing time of the forex market varies according to the time zone of the country in which the forex market is located. In this article, we will discuss what time does the forex market open in PST.
PST, or Pacific Standard Time, is a time zone located in the western part of North America, which includes the states of California, Nevada, and Oregon. When it is 12:00 pm in PST, it is 3:00 pm in New York, which is where the forex market opens. Therefore, the forex market opens at 3:00 pm PST on Sunday and closes at 2:00 pm PST on Friday.
The forex market operates through a network of financial institutions, including banks, brokers, and dealers, which are located in different time zones around the world. The forex market is divided into four main trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. Each session has its own opening and closing time, which varies according to the time zone of the country in which the session is located.
The Sydney session opens at 5:00 pm PST on Sunday and closes at 2:00 am PST on Monday. The Tokyo session opens at 7:00 pm PST on Sunday and closes at 4:00 am PST on Monday. The London session opens at 12:00 am PST on Monday and closes at 9:00 am PST. Finally, the New York session opens at 5:00 am PST and closes at 2:00 pm PST.
The forex market is open 24 hours a day, five days a week, which makes it a highly accessible market for traders worldwide. However, it is important to note that not all currency pairs are available for trading during all trading sessions. The liquidity and volatility of different currency pairs vary according to the trading session, which means that traders need to carefully choose the trading session and currency pairs that suit their trading strategies.
In conclusion, the forex market is open 24 hours a day, five days a week, which makes it a highly accessible market for traders worldwide. However, the opening and closing time of the forex market varies according to the time zone of the country in which the forex market is located. In PST, the forex market opens at 3:00 pm on Sunday and closes at 2:00 pm on Friday. Traders need to carefully choose the trading session and currency pairs that suit their trading strategies to maximize their profits and minimize their risks.
