The forex market is a global marketplace where currencies are exchanged 24 hours a day, five days a week. The market operates in different time zones and is open from Sunday evening to Friday evening. However, the opening time of the forex market on Sunday varies depending on the location and time zone.
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 trading hours. The Sydney and Tokyo sessions overlap, as do the London and New York sessions.
The Sydney session is the first to open on Sunday evening at 5:00 PM EST. This session is relatively quiet, with low volatility and liquidity, as it is the start of the trading week. The Asian market participants, including Japan, Hong Kong, and Australia, are the primary players during this session. The Sydney session closes at 2:00 AM EST, at which point the Tokyo session begins.
The Tokyo session opens at 7:00 PM EST on Sunday evening and overlaps with the Sydney session for two hours. The Tokyo session is known for its high liquidity, particularly during the Asian trading hours. The session is dominated by Japanese market participants, with some participation from other Asian countries such as China and Singapore. The Tokyo session closes at 4:00 AM EST, at which point the London session begins.
The London session is the most active session in the forex market, accounting for about 35% of the total daily trading volume. The session opens at 3:00 AM EST on Monday and overlaps with the Tokyo session for two hours. The London session is characterized by high volatility and liquidity, as it is the start of the European trading day. The session is dominated by European market participants, including the UK, Germany, and France. The London session closes at 12:00 PM EST, at which point the New York session begins.
The New York session is the last session of the trading day, opening at 8:00 AM EST and overlapping with the London session for four hours. The New York session is known for its high liquidity and volatility, as it is the start of the North American trading day. The session is dominated by market participants from the US and Canada. The New York session closes at 5:00 PM EST, at which point the market is closed until Sunday evening.
In conclusion, the forex market is open 24 hours a day, five days a week, from Sunday evening to Friday evening. The opening time of the forex market on Sunday varies depending on the location and time zone. The market is divided into four major trading sessions, each with its own unique characteristics and trading hours. The Sydney session opens first on Sunday evening, followed by the Tokyo, London, and New York sessions. Understanding the different trading sessions and their opening times is essential for traders to take advantage of the market’s opportunities and make informed trading decisions.
