Forex trading is a global market that operates 24 hours a day, five days a week. However, the forex market is not open on weekends, and it also observes some holidays. Therefore, traders should know the different forex market sessions and their closing times to plan their trades and avoid unexpected market moves.
The New York forex market session is one of the most active and liquid sessions in the forex market. It opens at 8:00 AM EST and closes at 5:00 PM EST. During this time, traders can access a wide range of currency pairs, including the US dollar, euro, British pound, Japanese yen, Swiss franc, and Canadian dollar.
The New York forex market session is considered the second-best trading session after the London forex market session. It is significant because it overlaps with the London session for four hours, which creates a high trading volume and volatility. The New York session also overlaps with the Asian session for two hours, which makes it an ideal time for traders located in Asia, Australia, and New Zealand.
The New York forex market session is known for its liquidity and volatility, which makes it an attractive time for traders to enter and exit trades. The session is also affected by economic news releases, such as the US Non-Farm Payrolls report, which is released on the first Friday of every month. These news releases can cause significant market moves, which can either present trading opportunities or risks for traders.
Closing times of the New York forex market session vary depending on the time of the year. During daylight saving time (DST), which starts on the second Sunday of March and ends on the first Sunday of November, the New York session closes at 5:00 PM EDT. During standard time, which starts on the first Sunday of November and ends on the second Sunday of March, the session closes at 5:00 PM EST.
Traders should also be aware of the different holidays observed in the US, which can affect the closing times of the New York forex market session. The following are the US holidays and their respective closing times:
– New Year’s Day: January 1st – Closed
– Martin Luther King Jr. Day: Third Monday in January – Closed
– Presidents’ Day: Third Monday in February – Closed
– Good Friday: Friday before Easter Sunday – Open until 12:00 PM EDT
– Memorial Day: Last Monday in May – Closed
– Independence Day: July 4th – Closed
– Labor Day: First Monday in September – Closed
– Thanksgiving Day: Fourth Thursday in November – Closed
– Christmas Day: December 25th – Closed
During some holidays, such as Christmas Eve and New Year’s Eve, the New York forex market session may close earlier than usual. Therefore, traders should always check the trading schedule for the specific holiday to plan their trades accordingly.
In conclusion, the New York forex market session is one of the most active and liquid sessions in the forex market. It opens at 8:00 AM EST and closes at 5:00 PM EST, except during daylight saving time when it closes at 5:00 PM EDT. Traders should be aware of the different holidays observed in the US, which can affect the closing times of the session. By understanding the closing times of the New York forex market session, traders can plan their trades and avoid unexpected market moves.
