Forex, short for foreign exchange, is the world’s largest financial market, with an average daily turnover of over $5 trillion. The forex market is a decentralized market, meaning that there is no central exchange where all the trades take place. Instead, the market is open 24 hours a day, five days a week, and is traded globally by banks, institutions, and individual traders from around the world.
The forex market is open 24 hours a day, but it’s important to note that it’s not open all the time. The market is closed on weekends, which means that trading does not take place on Saturdays and Sundays. However, there are certain times when the market opens on Sundays, depending on where you live and what time zone you’re in.
The forex market is divided into four main trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. Each session has its own unique trading hours, which means that the market is open at different times around the world.
The Sydney session opens at 10 pm GMT on Sunday and closes at 7 am GMT on Monday. The Tokyo session starts at midnight GMT on Sunday and closes at 9 am GMT on Monday. The London session begins at 8 am GMT on Monday and closes at 5 pm GMT, while the New York session starts at 1 pm GMT on Monday and closes at 10 pm GMT.
So, depending on where you live and what time zone you’re in, the forex market may open on Sunday. For example, if you live in New Zealand or Australia, the market will open on Sunday evening your time, but if you live in the United States or Europe, the market will not open until Monday morning.
It’s important to note that even though the forex market is open 24 hours a day, not all currency pairs are available for trading at all times. Some currency pairs are more active during certain sessions, while others are less active. For example, the AUD/USD pair is more actively traded during the Sydney session, while the EUR/USD pair is more active during the London and New York sessions.
In conclusion, the forex market is open 24 hours a day, but trading does not take place on weekends. However, depending on where you live and what time zone you’re in, the market may open on Sunday evening or Monday morning. It’s important to understand the different trading sessions and the activity of different currency pairs during those sessions to make informed trading decisions.
