The forex market is a global marketplace where individuals, institutions, and governments buy and sell currencies. It is open 24 hours a day, five days a week, starting from Sunday evening to Friday afternoon. However, the opening hours may vary depending on the time zone and daylight saving time in different countries.
On August 25th, 2017, the forex market was open as usual. The market opened on Sunday, August 27th, 2017, at 5:00 PM EST, in Sydney, Australia. The market opened in Asia first because of the time difference.
After the opening in Sydney, the forex market moved to Tokyo, Japan, at 7:00 PM EST. Tokyo is the second-largest forex trading center in the world, after London. The forex market in Tokyo is known for its high liquidity and volatility.
The forex market then moved to London, at 3:00 AM EST on Monday, August 28th, 2017. London is the largest forex trading center in the world, accounting for around 35% of the total daily forex turnover. The forex market in London is known for its high liquidity and stability.
Finally, the forex market moved to New York, at 8:00 AM EST. New York is the second-largest forex trading center in the world, accounting for around 17% of the total daily forex turnover. The forex market in New York is known for its high liquidity and volatility, especially during the overlap with the London forex market.
It is worth noting that the forex market is closed on weekends, which are Saturday and Sunday in most countries. However, there are some exceptions, such as the forex market in the Middle East, which operates on Sundays and Thursdays.
Another factor that affects the forex market’s opening hours is daylight saving time. Some countries, such as the United States and the United Kingdom, observe daylight saving time, which means that the clocks are adjusted by one hour during the summer months. This may cause the forex market’s opening and closing times to vary by one hour.
In conclusion, the forex market is open 24 hours a day, five days a week, starting from Sunday evening to Friday afternoon. On August 25th, 2017, the forex market opened on Sunday, August 27th, 2017, at 5:00 PM EST, in Sydney, Australia, and moved to Tokyo, London, and New York, respectively. The forex market’s opening hours may vary depending on the time zone and daylight saving time in different countries.
