Forex or foreign exchange market is a decentralized market for trading currencies all around the world. The market operates 24 hours a day, five days a week, making it a highly liquid and accessible market. In this article, we will discuss when the forex market closes on Sunday.
The forex market is open 24 hours a day, starting from Sunday evening to Friday evening. However, the market is not open 24 hours a day for every currency pair. There are certain times when some currency pairs are more active than others. For instance, the USD/EUR pair is most active during the New York and London trading sessions, whereas the USD/JPY pair is most active during the Tokyo and London trading sessions.
When it comes to Sunday trading, the market opens at 5:00 PM EST (10:00 PM GMT) on Sunday and closes at 5:00 PM EST (10:00 PM GMT) on Friday. This means that the forex market is open 24 hours a day, five days a week, except for weekends.
The forex market closing time on Sunday varies according to different time zones. For example, the market closes at 5:00 PM EST (10:00 PM GMT) on Sunday in New York, but it may be different in other regions. In Sydney, Australia, the market opens on Monday at 8:00 AM local time, and in Tokyo, Japan, the market opens at 9:00 AM local time.
It is important to note that the forex market is closed on weekends, which means that trading cannot take place during this time. However, some brokers may offer weekend trading on certain currency pairs, but this is not common.
One of the reasons why the forex market is open 24 hours a day is because it is a global market. Traders from different parts of the world can participate in the market at any time, which creates a highly liquid market. This also means that the market is affected by different economic and political events from different regions, which can cause prices to fluctuate.
In conclusion, the forex market is open 24 hours a day, five days a week, starting from Sunday evening to Friday evening. The market closes on weekends, and the closing time on Sunday varies according to different time zones. Understanding the forex market trading hours is important for traders to take advantage of the most active trading sessions and to avoid trading during low liquidity periods.
