Forex trading is a global market that operates 24 hours a day, five days a week. It is the largest financial market in the world with a daily turnover of over $5 trillion. The forex market is open from Sunday at 5 pm EST until Friday at 5 pm EST. However, the start of forex trading on Sunday varies depending on the time zone.
The forex market is divided into four major time zones: Sydney, Tokyo, London, and New York. Each time zone has different trading hours, and the start of forex trading on Sunday varies depending on the time zone.
Sydney Time Zone
The Sydney time zone is the first to open on Sunday at 5 pm EST. This is because Australia is the first major financial center to open after the weekend. The Sydney forex market opens at 5 pm EST on Sunday and closes at 2 am EST on Friday.
Tokyo Time Zone
The Tokyo time zone opens an hour after the Sydney time zone, at 6 pm EST on Sunday. The Tokyo forex market is the second largest in the world and accounts for around 20% of forex trading volume. The Tokyo forex market closes at 3 am EST on Friday.
London Time Zone
The London time zone is the largest forex trading center in the world, accounting for around 40% of forex trading volume. The London forex market opens at 3 am EST on Monday and closes at 12 pm EST on Friday. The London forex market overlaps with the New York forex market for a few hours, which creates high trading volume and volatility.
New York Time Zone
The New York time zone is the second largest forex trading center in the world, accounting for around 20% of forex trading volume. The New York forex market opens at 8 am EST on Monday and closes at 5 pm EST on Friday. The New York forex market overlaps with the London forex market for a few hours, which creates high trading volume and volatility.
Factors that Affect Forex Trading on Sunday
There are several factors that affect forex trading on Sunday, including:
1. Market News: Market news and events can affect the start of forex trading on Sunday. If there is significant news over the weekend, the forex market may open earlier or later than usual.
2. Time Zone Changes: Time zone changes can affect the start of forex trading on Sunday. Some countries change their clocks for daylight saving time, which can affect the opening and closing times of the forex market.
3. Holiday Schedule: The forex market operates on a holiday schedule, which means that trading may be closed or limited on certain holidays. This can affect the start of forex trading on Sunday.
Conclusion
Forex trading is a global market that operates 24 hours a day, five days a week. The start of forex trading on Sunday varies depending on the time zone. The Sydney time zone is the first to open on Sunday at 5 pm EST, followed by the Tokyo, London, and New York time zones. Several factors can affect the start of forex trading on Sunday, including market news, time zone changes, and the holiday schedule. As a forex trader, it is important to stay up-to-date on these factors to make informed trading decisions.
