Forex market or foreign exchange market is the largest and most liquid financial market in the world, where currencies are traded 24 hours a day, five days a week. The forex market is open 24 hours a day from Sunday 5:00 pm EST to Friday 5:00 pm EST. However, it is important to note that forex trading hours vary depending on the region, and the opening and closing times of the forex market differ from one country to another.
In general, forex trading opens on Monday morning in the Asia-Pacific region, including Japan, Singapore, and Australia, at 8:00 am local time. This is equivalent to Sunday 5:00 pm EST in New York. As the day progresses, the forex market opens in other regions, including Europe and the Middle East, and eventually in the United States.
The forex market operates on a 24-hour cycle because it is traded globally with different time zones. The forex market is open 24 hours a day, five days a week, from Monday to Friday. However, the forex market is closed on weekends, which means it is not possible to trade currencies on Saturdays and Sundays.
The forex market is divided into four major trading sessions: the Asian session, the European session, the North American session, and the Pacific session. Each of these sessions has its own unique characteristics, trading hours, and currency pairs that are traded during that session.
The Asian session is the first session to open on Monday, and it starts at 8:00 am local time in Japan. This session includes trading activities in Tokyo, Singapore, Hong Kong, and other countries in the Asia-Pacific region. The Asian session is known for its low volatility and liquidity, and it is the best time to trade currency pairs such as AUD/USD, NZD/USD, and USD/JPY.
The European session starts at 2:00 am EST and is the second session to open on Monday. This session includes trading activities in major financial centers such as London, Frankfurt, Zurich, and Paris. The European session is known for its high volatility and liquidity, and it is the best time to trade currency pairs such as EUR/USD, GBP/USD, and EUR/GBP.
The North American session starts at 8:00 am EST and is the third session to open on Monday. This session includes trading activities in major financial centers such as New York, Toronto, and Chicago. The North American session is known for its high volatility and liquidity, and it is the best time to trade currency pairs such as USD/CAD, USD/JPY, and USD/CHF.
The Pacific session is the last session to open on Monday and starts at 5:00 pm EST. This session includes trading activities in Sydney and Auckland. The Pacific session is known for its low volatility and liquidity, and it is the best time to trade currency pairs such as AUD/USD, NZD/USD, and USD/JPY.
In conclusion, the forex market is open 24 hours a day, five days a week, from Monday to Friday. The opening time of the forex market on Monday varies depending on the region, and it is important to note that forex trading hours vary depending on the region as well. Traders should be aware of the different trading sessions and their characteristics to make informed decisions when trading currencies.
