The forex market is the largest financial market in the world, with an average daily trading volume of over $5 trillion. It is a decentralized market, which means that it operates 24 hours a day, five days a week. But what time does forex market open today?
The forex market is divided into three major trading sessions: the Asian session, the European session, and the American session. Each session has its own characteristics and trading hours.
The Asian session starts at 10:00 PM GMT and ends at 7:00 AM GMT. This session is dominated by the Japanese yen, as Japan is the largest economy in Asia. Other important currencies traded during this session include the Australian dollar, the New Zealand dollar, and the Singapore dollar.
The European session starts at 7:00 AM GMT and ends at 4:00 PM GMT. This session is the most active and liquid session, as it overlaps with both the Asian and American sessions. The euro is the most traded currency during this session, followed by the British pound, the Swiss franc, and the Norwegian krone.
The American session starts at 12:00 PM GMT and ends at 9:00 PM GMT. This session is dominated by the US dollar, as the United States is the largest economy in the world. Other important currencies traded during this session include the Canadian dollar, the Mexican peso, and the Brazilian real.
It is important to note that the forex market is closed on weekends, which means that there is no trading activity on Saturdays and Sundays. However, some brokers offer trading on weekends for certain currency pairs, such as the USD/RUB (US dollar/Russian ruble) and the USD/TRY (US dollar/Turkish lira).
In addition to the three major trading sessions, there are also minor trading sessions, such as the Pacific session and the Middle East session. These sessions have lower trading volumes and are less liquid than the major sessions.
It is also important to consider daylight saving time (DST) when trading forex. DST is observed in many countries around the world, and it can affect the trading hours of the forex market. For example, when DST starts in the United States, the trading hours of the American session shift by one hour.
To summarize, the forex market is open 24 hours a day, five days a week. The Asian session starts at 10:00 PM GMT and ends at 7:00 AM GMT, the European session starts at 7:00 AM GMT and ends at 4:00 PM GMT, and the American session starts at 12:00 PM GMT and ends at 9:00 PM GMT. Traders should also consider DST and minor trading sessions when planning their trading activities.
