The forex market, also known as the foreign exchange market, is a global decentralized market for the trading of currencies. As the forex market is open 24 hours a day, five days a week, it is important to understand when it closes in different time zones. In this article, we will focus on when the forex market closes in New York.
The forex market in New York is one of the most active and important forex markets in the world. It is open from 8:00 am to 5:00 pm Eastern Standard Time (EST), which is 1:00 pm to 10:00 pm Greenwich Mean Time (GMT). However, it is important to note that the forex market in New York does not close completely at 5:00 pm EST.
After 5:00 pm EST, the forex market in New York goes into what is known as the after-hours session. During this session, trading activity is significantly reduced, and liquidity is lower than during the main trading session. The after-hours session lasts from 5:00 pm EST to 8:00 pm EST.
It is important to note that while the forex market in New York is closed during the weekends, it is still open in other parts of the world. This means that traders can still access the forex market during the weekends, but they may experience lower liquidity and wider spreads.
The forex market in New York is closed on the following holidays:
– New Year’s Day (January 1)
– Martin Luther King Jr. Day (third Monday in January)
– Presidents’ Day (third Monday in February)
– Good Friday (Friday before Easter Sunday)
– Memorial Day (last Monday in May)
– Independence Day (July 4)
– Labor Day (first Monday in September)
– Thanksgiving Day (fourth Thursday in November)
– Christmas Day (December 25)
On these holidays, the forex market in New York is closed, and there is no trading activity.
It is important for traders to be aware of when the forex market in New York is closing, as this can affect their trading strategies. For example, traders may want to avoid holding positions overnight during the after-hours session, as liquidity is lower and spreads may widen. Traders may also want to avoid trading during holidays, as there may be unexpected market movements when the forex market reopens.
In conclusion, the forex market in New York closes at 5:00 pm EST and goes into the after-hours session until 8:00 pm EST. The forex market in New York is closed on weekends and certain holidays. Traders should be aware of these closing times and plan their trading strategies accordingly.
