Foreign exchange, or forex, trading is a global market where currencies are bought and sold 24 hours a day, five days a week. However, different time zones and public holidays mean that the forex market opens and closes at different times around the world. In this article, we will focus on when the forex market opens in the United States.
The forex market is divided into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. The New York session is the last trading session of the day, and it is the session that closes the trading week. It is also the session where the most trading activity occurs, as it overlaps with the London session.
The forex market in the US officially opens at 5:00 PM EST on Sunday, which is 10:00 PM GMT. This opening time applies to the New York session, which is the largest and most active trading session in the world. The New York session accounts for around 19% of the total forex trading volume, and it is where the majority of forex trading activity takes place.
The forex market in the US is open from Sunday to Friday, 24 hours a day. However, it is important to note that trading is not equally active throughout the day. The most active trading hours in the New York session are from 8:00 AM to 12:00 PM EST, which overlaps with the London session. This four-hour period is known as the “power hour” in the forex market, as it is when the highest trading volume and volatility occur.
The forex market in the US closes at 5:00 PM EST on Friday, which is 10:00 PM GMT. This closing time applies to the New York session, and it marks the end of the trading week. After the market closes on Friday, it remains closed for the weekend until the market opens again on Sunday.
It is important to note that the forex market in the US does not close completely during public holidays. While some financial institutions and banks may close during public holidays, the forex market remains open 24 hours a day, five days a week. However, trading volume may be lower during public holidays, as traders may take time off or lower their trading activity.
In conclusion, the forex market in the US officially opens at 5:00 PM EST on Sunday, which is 10:00 PM GMT. The market is open 24 hours a day, five days a week, and it closes at 5:00 PM EST on Friday, which is 10:00 PM GMT. The most active trading hours in the New York session are from 8:00 AM to 12:00 PM EST, and the highest trading volume and volatility occur during this period. While the forex market in the US remains open during public holidays, trading volume may be lower during these periods.
