The foreign exchange market operates 24 hours a day, five days a week. However, this does not mean that every market is open all the time. The forex market operates through a network of financial institutions, and each of these institutions has its own trading hours. In this article, we will focus on the New York forex market and answer the question, “What time does New York forex close?
New York is one of the major financial centers of the world, and the New York forex market is one of the most important forex markets globally. The New York forex market is also known as the American Session, and it operates from 8:00 AM to 5:00 PM EST. During this time, the New York forex market is the most active forex market globally, with the highest trading volume.
The New York forex market is responsible for around 19% of the total forex market turnover, making it the second-largest forex market globally, after the London forex market. The New York forex market is dominated by institutional traders, including large banks, hedge funds, and other financial institutions. These traders trade in large volumes, and their trades have a significant impact on the forex market.
The New York forex market opens at 8:00 AM EST and closes at 5:00 PM EST. During this time, traders can trade various forex pairs, including the USD/JPY, EUR/USD, GBP/USD, and USD/CAD, among others. The New York forex market is open for trading five days a week, from Monday to Friday.
The New York forex market is unique in that it overlaps with two other major forex markets, the London forex market and the Tokyo forex market. The overlap between the New York and London forex markets is the most significant and occurs between 8:00 AM EST and 12:00 PM EST. During this overlap, the trading volume is the highest, making it the most active period of the New York forex market.
The overlap between the New York and Tokyo forex markets is much shorter and occurs between 7:00 PM EST and 12:00 AM EST. During this overlap, the trading volume is lower than during the New York-London overlap, but it is still a significant trading period for traders who trade the USD/JPY forex pair.
The New York forex market is influenced by various factors, including economic news releases, central bank announcements, geopolitical events, and market sentiment. Traders need to keep an eye on these factors and adjust their trading strategies accordingly.
In conclusion, the New York forex market is one of the most important forex markets globally, with the highest trading volume during its trading hours of 8:00 AM EST to 5:00 PM EST. The New York forex market overlaps with the London and Tokyo forex markets, making it an active and volatile market. Traders need to keep track of economic news releases, central bank announcements, geopolitical events, and market sentiment to make informed trading decisions.
