Forex, also known as the foreign exchange market, is a global decentralized market where currencies are traded. The forex market operates 24 hours a day, five days a week. However, there are certain times when the market opens and closes, and these times vary depending on the region and time zone. In this article, we will discuss when the forex market opens up on Sundays.
The forex market is open 24 hours a day, five days a week, from Monday to Friday. The market opens in Wellington, New Zealand on Monday morning at 8:00 am local time (Sunday evening at 20:00 GMT) and closes in New York on Friday evening at 5:00 pm local time (Saturday morning at 10:00 GMT). This means that the forex market is open for trading for 24 hours a day, five days a week.
However, there is a catch when it comes to Sunday trading. The forex market does not open on Sundays. It remains closed throughout the day until the market opens on Monday morning in Wellington, New Zealand. This is because the forex market operates in different time zones around the world, and Sunday is a day of rest in many countries. Therefore, the forex market stays closed on Sundays to allow traders and market participants to rest and prepare for the week ahead.
So, when does the forex market open on Sundays? The answer to this question depends on the time zone you are in. The forex market opens on Sunday evening at 20:00 GMT (3:00 pm EST) in Wellington, New Zealand. This is the first market to open for the week, and it is often referred to as the “Asia-Pacific” market. This market is followed by the Tokyo market, which opens at 00:00 GMT (7:00 pm EST) on Monday morning. The Tokyo market is followed by the Singapore and Hong Kong markets, which open at 01:00 GMT (8:00 pm EST) on Monday morning.
As the day progresses, the forex market opens up in other regions around the world. The European market opens at 06:00 GMT (1:00 am EST) on Monday morning, with the London market opening at 08:00 GMT (3:00 am EST). The European market is the busiest forex market, accounting for over 50% of all forex trades. Finally, the New York market opens at 13:00 GMT (8:00 am EST) on Monday morning. The New York market is the second-busiest forex market, accounting for around 20% of all forex trades.
It is important to note that the forex market is not open for trading during weekends. Therefore, traders cannot place trades or execute orders during this time. However, traders can still monitor the market and analyze market trends and news events that may affect the market when it opens on Monday. This can help traders to prepare for the week ahead and make informed trading decisions.
In conclusion, the forex market is open 24 hours a day, five days a week, from Monday to Friday. However, the market stays closed on Sundays to allow traders and market participants to rest and prepare for the week ahead. The forex market opens up on Sunday evening at 20:00 GMT (3:00 pm EST) in Wellington, New Zealand, and it opens up in other regions around the world as the day progresses. Traders can monitor the market during the weekend to prepare for the week ahead, but they cannot place trades or execute orders during this time.
