The foreign exchange (forex) market is the largest and most liquid financial market in the world. It is open 24 hours a day, 5 days a week, and operates in different time zones, making it accessible to traders from all over the world. The forex market is open from Sunday at 5:00 pm EST to Friday at 5:00 pm EST, with trading sessions overlapping in different time zones.
The forex market operates in four major trading sessions, which are the Sydney session, Tokyo session, London session, and New York session. Each session has its characteristics, with different currency pairs being more active during specific sessions due to the time zone overlap.
The Sydney session opens at 5:00 pm EST and closes at 2:00 am EST, with the Australian and New Zealand dollar being the most active currency pairs during this session. The Tokyo session opens at 7:00 pm EST and closes at 4:00 am EST, with the Japanese yen being the most active currency pair during this session.
The London session opens at 3:00 am EST and closes at 12:00 pm EST, with the euro, British pound, and Swiss franc being the most active currency pairs during this session. Finally, the New York session opens at 8:00 am EST and closes at 5:00 pm EST, with the US dollar being the most active currency pair during this session.
On March 12, 2017, which was a Sunday, the forex market would have opened at 5:00 pm EST for the Sydney session. However, trading activity during this session is typically low due to the weekend, and most traders wait for the Tokyo or London session to start trading actively.
It’s important to note that the forex market operates differently during holidays and special events, such as economic releases, central bank meetings, and geopolitical events. These events can cause increased volatility and affect trading activity during specific sessions.
In summary, the forex market is open 24 hours a day, 5 days a week, and operates in different time zones. Trading sessions overlap, with different currency pairs being more active during specific sessions. On March 12, 2017, the forex market would have opened at 5:00 pm EST for the Sydney session, but trading activity during this session is typically low. It’s important to consider holidays and special events that can affect trading activity and volatility.
