The forex market is a highly liquid and dynamic market that operates 24 hours a day, five days a week. One of the busiest trading sessions in the forex market is the New York session, which runs from 8:00 am to 5:00 pm EST. During this time, traders from around the world participate in the market, making it one of the most volatile and active times to trade.
As a trader, it is essential to understand the forex pairs that move the most during the New York session. This knowledge will enable you to make informed trading decisions and maximize your profits. In this article, we will explore the forex pairs that move the most during the New York session.
1. EUR/USD
The EUR/USD is the most traded currency pair in the forex market, and it also moves the most during the New York session. This pair accounts for almost 30% of the daily forex trading volume, making it a highly liquid and volatile pair. The New York session is the time when the European markets overlap with the American markets, leading to increased volatility in the pair. Traders should pay close attention to the economic releases from both the European Union and the United States during this session.
2. USD/JPY
The USD/JPY is the second most traded currency pair in the forex market, and it also moves significantly during the New York session. This pair accounts for about 14% of the daily forex trading volume. The New York session is the time when the Japanese markets overlap with the American markets, leading to increased volatility in the pair. Traders should pay close attention to the economic releases from both Japan and the United States during this session.
3. GBP/USD
The GBP/USD is the third most traded currency pair in the forex market, and it also moves significantly during the New York session. This pair accounts for about 9% of the daily forex trading volume. The New York session is the time when the European markets overlap with the American markets, leading to increased volatility in the pair. Traders should pay close attention to the economic releases from both the United Kingdom and the United States during this session.
4. USD/CHF
The USD/CHF is a less popular currency pair but moves significantly during the New York session. This pair accounts for about 5% of the daily forex trading volume. The New York session is the time when the Swiss markets overlap with the American markets, leading to increased volatility in the pair. Traders should pay close attention to the economic releases from both Switzerland and the United States during this session.
5. AUD/USD
The AUD/USD is a popular currency pair among traders in the Asia-Pacific region and also moves significantly during the New York session. This pair accounts for about 6% of the daily forex trading volume. The New York session is the time when the Australian markets overlap with the American markets, leading to increased volatility in the pair. Traders should pay close attention to the economic releases from both Australia and the United States during this session.
In conclusion, the forex pairs that move the most during the New York session are the EUR/USD, USD/JPY, GBP/USD, USD/CHF, and AUD/USD. These pairs are highly liquid and volatile, making them ideal for traders looking to make significant profits. However, traders should be aware of the risks involved in trading during the New York session and should have a solid trading strategy in place to minimize their losses. It is also essential to keep up to date with the economic releases and news events that can impact these currency pairs during the New York session.
