The New York forex session is one of the most important trading sessions in the world of forex trading. It is the second largest forex trading session, after the London session, and is responsible for around 19% of the daily forex trading volume. The New York forex session is known for its high liquidity and volatility, making it a popular session among traders.
So, when does the New York forex session begin? The New York forex session begins at 8:00 AM EST (Eastern Standard Time) and runs until 5:00 PM EST. This session is also known as the North American session, as it includes both the United States and Canada.
However, it is important to note that the New York forex session does not start at the same time every day. This is because the United States observes Daylight Saving Time, which means that the clocks are moved forward by one hour during the summer months. As a result, the New York forex session begins at 1:00 PM GMT during the winter months and 12:00 PM GMT during the summer months.
The New York forex session is a crucial time for forex traders as it overlaps with the London session for a few hours. This overlap period is known as the London-New York overlap and is considered to be the most volatile time of the day for forex trading. During this period, there is a high volume of trading activity, which can lead to significant price movements and opportunities for traders to make profits.
The New York forex session is also important because it is the time when economic data releases from the United States are released. These data releases can have a significant impact on the forex market, and traders must be aware of them and their potential impact on the currency pairs they are trading.
Some of the key economic data releases that occur during the New York forex session include the Non-Farm Payrolls report, which is released on the first Friday of every month. This report provides information on the number of jobs added or lost in the United States, and it is a closely watched indicator of the health of the US economy. Other important economic data releases during the New York forex session include the Consumer Price Index, the Gross Domestic Product, and the Retail Sales report.
In addition to economic data releases, the New York forex session is also important because it is the time when major US financial institutions and corporations release their earnings reports. These reports can have a significant impact on the stock market and, in turn, the forex market. Traders must be aware of these earnings reports and their potential impact on the currency pairs they are trading.
In conclusion, the New York forex session is an essential time for forex traders, as it is responsible for a significant portion of the daily forex trading volume. It is a time of high liquidity and volatility, which presents many opportunities for traders to make profits. The New York forex session begins at 8:00 AM EST and runs until 5:00 PM EST, and it is important for traders to be aware of economic data releases and earnings reports during this time. By understanding the importance of the New York forex session, traders can make informed trading decisions and maximize their profits.
