Forex markets are the largest financial market in the world, with a daily trading volume of around $5 trillion. Forex trading is popular among traders because it offers high liquidity, low transaction costs, and the ability to trade 24 hours a day. But when do forex markets open today?
Forex trading is open 24 hours a day, 5 days a week. However, not all trading hours are created equal. 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 unique characteristics, and the trading volume and volatility vary depending on the session.
The Sydney session is the first session to open and the least active of the four sessions. It opens at 10:00 PM GMT and closes at 7:00 AM GMT. The Sydney session is mainly active in the Asian markets, including Australia, New Zealand, and Japan. The currency pairs that are most active during the Sydney session are AUD/USD, NZD/USD, and USD/JPY.
The Tokyo session is the second session to open and is also known as the Asian session. It opens at 11:00 PM GMT and closes at 8:00 AM GMT. The Tokyo session is more active than the Sydney session, with higher trading volume and volatility. The currency pairs that are most active during the Tokyo session are USD/JPY, EUR/JPY, and AUD/JPY.
The London session is the third session to open and is the most active session of the four sessions. It opens at 8:00 AM GMT and closes at 5:00 PM GMT. The London session is active in the European markets, including the United Kingdom, Germany, France, and Switzerland. The currency pairs that are most active during the London session are EUR/USD, GBP/USD, and EUR/GBP.
The New York session is the fourth session to open and is also known as the North American session. It opens at 1:00 PM GMT and closes at 10:00 PM GMT. The New York session is active in the American markets, including the United States, Canada, and Mexico. The currency pairs that are most active during the New York session are USD/CAD, USD/CHF, and USD/MXN.
It is important to note that the forex market is closed on weekends. The market opens on Sunday at 10:00 PM GMT with the Sydney session and closes on Friday at 10:00 PM GMT with the New York session. However, there are some exceptions to this rule. Some brokers offer trading on the weekends, but the trading volume and liquidity are significantly lower than during the weekdays.
In conclusion, the forex market is open 24 hours a day, 5 days a week. The 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 unique characteristics, and the trading volume and volatility vary depending on the session. It is important for traders to understand the trading hours and characteristics of each session to make informed trading decisions.
