The forex market is the largest financial market in the world, with trades worth trillions of dollars taking place every day. As the market is open 24 hours a day, five days a week, it can be difficult to keep track of when it opens and closes. In this article, we will discuss what time the forex market closes on Friday.
The forex market operates on a global scale, with different time zones coming into play. As such, the market is open 24 hours a day from Monday to Friday. However, this does not mean that the market is constantly active. Instead, there are specific trading sessions that are more active than others.
The forex market is divided into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. The Sydney session starts at 10 pm GMT on Sunday and ends at 7 am GMT on Monday. The Tokyo session starts at midnight GMT and ends at 9 am GMT. The London session starts at 8 am GMT and ends at 5 pm GMT. Finally, the New York session starts at 1 pm GMT and ends at 10 pm GMT.
Of these four sessions, the London and New York sessions are the most active, with the majority of forex trades taking place during these times. As such, the forex market tends to be most volatile during the overlap between these two sessions, which occurs between 1 pm GMT and 5 pm GMT.
Now, let’s get to the question of what time the forex market closes on Friday. As we mentioned earlier, the forex market is open 24 hours a day from Monday to Friday. However, the market does close for the weekend.
The forex market officially closes at 5 pm GMT on Friday. This marks the end of the New York session and the end of the trading week. After this time, forex trading activity reduces significantly, and the market remains closed until it opens again on Sunday evening.
It is worth noting that while the forex market officially closes at 5 pm GMT on Friday, this does not necessarily mean that all forex brokers and trading platforms will stop operating at this time. Some brokers may continue to offer trading services over the weekend, although the liquidity and volume of trades will be significantly lower than during the trading week.
It is also important to keep in mind that the forex market can be affected by unexpected events and news releases. These can occur at any time, including outside of the official trading hours. As such, traders need to be aware of these potential market-moving events and adjust their trading strategies accordingly.
In conclusion, the forex market officially closes at 5 pm GMT on Friday, marking the end of the trading week. While some brokers may continue to offer trading services over the weekend, the liquidity and volume of trades will be significantly lower than during the trading week. Traders need to be aware of unexpected events and news releases that can affect the market at any time.
