The forex market is a global market that operates 24 hours a day, 5 days a week. It is the largest financial market in the world, with an average daily turnover of over $5 trillion. The forex market is open from Sunday 5:00 pm EST to Friday 5:00 pm EST. However, there are certain times during the week when the market is more active and volatile 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. Each session has its own characteristics and trading hours, and traders need to be aware of these in order to make informed trading decisions.
The Sydney session is the first to open and starts at 5:00 pm EST on Sunday. It is a relatively quiet session, with low volatility and low trading volumes. This is because the major financial centers in Asia, such as Tokyo and Hong Kong, are still closed at this time.
The Tokyo session opens at 7:00 pm EST on Sunday and is the second major trading session. This session is more active than the Sydney session, as the major financial centers in Asia are now open. The Japanese yen is one of the most actively traded currencies during this session, and traders should pay close attention to any economic news coming out of Japan.
The London session is the third major trading session and opens at 3:00 am EST. This is the most active session of the day, as the major financial centers in Europe are now open. The euro, pound sterling, and Swiss franc are some of the most actively traded currencies during this session. Traders should pay close attention to any economic news coming out of Europe, as it can have a significant impact on currency prices.
The New York session is the last major trading session and opens at 8:00 am EST. This session overlaps with the London session for a few hours, which leads to increased volatility and trading volumes. The US dollar is the most actively traded currency during this session, and traders should pay close attention to any economic news coming out of the United States.
It is important to note that the forex market is not open on weekends. However, there are still opportunities to trade during this time. Some brokers offer trading on the weekends, but liquidity and trading volumes are generally lower than during the week.
In conclusion, the forex market is a global market that operates 24 hours a day, 5 days a week. The market is divided into four major trading sessions, each with its own characteristics and trading hours. Traders should be aware of these sessions and the currencies that are most actively traded during each one in order to make informed trading decisions.
