The foreign exchange market or forex market is the largest financial market in the world, with an estimated daily turnover of over $5 trillion. The forex market is open 24 hours a day, five days a week, allowing traders to buy and sell currencies at any time. However, the market does have specific trading hours that vary depending on the region.
The forex market is divided into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. Each of these sessions has its own opening and closing times. The New York session is the last one to open and the last one to close, making it an important session for traders around the world.
The New York forex trading session starts at 8:00 AM EST and ends at 5:00 PM EST. During this time, the market is highly active, with traders from around the world actively buying and selling currencies. This is because the New York session overlaps with the European session, which is the busiest trading session.
The European session starts at 2:00 AM EST and ends at 11:00 AM EST. During this time, the forex market is highly active as traders from Europe and the United Kingdom are actively buying and selling currencies. This session is followed by the New York session, which starts at 8:00 AM EST and ends at 5:00 PM EST.
The New York session is an important session for traders because it is the last session to close, and it is during this time that traders around the world finalize their trades. Traders in Asia and Australia start their trading day during the New York session, and this is when they look to close their trades.
It is important to note that the forex market is a decentralized market, which means that there is no central exchange for trading currencies. Instead, the market is made up of a network of banks, financial institutions, and retail traders who trade currencies over the internet or phone.
The forex market is open 24 hours a day, five days a week, which means that traders can trade currencies at any time. However, it is important to note that not all currency pairs are active at all times. Some currency pairs are more active during certain sessions than others.
For example, the USD/JPY currency pair is more active during the Asian session, while the EUR/USD currency pair is more active during the European and New York sessions. It is important for traders to understand the trading hours of different currency pairs to maximize their trading opportunities.
In conclusion, the New York forex trading session starts at 8:00 AM EST and ends at 5:00 PM EST. This session is an important session for traders around the world because it is the last session of the day and it overlaps with the European session, which is the busiest trading session. Traders should also understand the trading hours of different currency pairs to maximize their trading opportunities.
