Forex, also known as the foreign exchange market, is a global decentralized market for the trading of currencies. It is the largest and most liquid financial market in the world, with a daily trading volume of over $5 trillion. Forex operates 24 hours a day, five days a week, with trading sessions starting in Sydney, then Tokyo, London, and finally New York. But what time EST does a new day in forex begin?
EST stands for Eastern Standard Time, which is the time zone used in the eastern part of the United States and Canada. It is five hours behind Coordinated Universal Time (UTC-5) during the winter months and four hours behind (UTC-4) during daylight saving time. Forex trading hours are often expressed in EST, as it is one of the most commonly used time zones in the world.
The forex market is open 24 hours a day, starting on Sunday at 5 pm EST and closing on Friday at 5 pm EST. This means that there is always a market open somewhere in the world, allowing traders to buy and sell currencies at any time of the day or night. However, just because the market is open 24 hours a day doesn’t mean that it is equally active throughout the day.
The forex market is divided into three major trading sessions: the Asian session, the European session, and the North American session. The Asian session starts at 7 pm EST on Sunday and ends at 4 am EST on Monday. This session is dominated by the Japanese yen, the Australian dollar, and the New Zealand dollar. The European session starts at 3 am EST and ends at 12 pm EST. This session is dominated by the euro, the British pound, and the Swiss franc. The North American session starts at 8 am EST and ends at 5 pm EST. This session is dominated by the US dollar and the Canadian dollar.
The start of a new day in forex depends on the trading session. For example, a new day in the Asian session starts at 7 pm EST on Sunday, while a new day in the European session starts at 3 am EST on Monday. The North American session starts at 8 am EST on Monday. This means that the start of a new day in forex is different for every trading session and depends on the time zone you are in.
It is important to note that the start of a new day in forex does not necessarily mean that the market will experience a significant change in volatility or trading activity. The forex market is influenced by a wide range of factors, including economic data releases, geopolitical events, and monetary policy decisions. Traders should always be aware of these factors and adjust their trading strategies accordingly.
In conclusion, the start of a new day in forex depends on the trading session and the time zone you are in. The forex market operates 24 hours a day, five days a week, giving traders the flexibility to trade at any time of the day or night. However, traders should always be aware of the factors that influence the market and adjust their strategies accordingly.
