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Forex Market Hours and Sessions in 2021
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Forex Market Hours For New York Trading Session
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Any research is provided for general information purposes and does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Your see, the share market opens during the morning and closes in the afternoon but the forex markets does not operate in this manner. As a matter of fact, the forex market is a 24hr market. Which means, the forex market follows the sun around the world. Which means you can be anywhere in the world and trade the forex market from your laptop as long as you have an internet connection. Well, forex trading sessions are different periods during the day at different parts of the world where forex is traded DURING the day.
Now, lets look at the forex trading times for each of the forex trading sessions mentioned above. Note: the times below are given in GMT. You need to convert these times to your appropriate time zone.
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If you live in Australia in Queensland, the following table give you the start and end times for the different forex trading sessions in your own time:. Each of these forex sessions is typically given the same name as the money center city that has the business hours they correspond to. If you are looking to discover the best time to trade forex pairs, then understanding when the various forex sessions operate and what currencies are most liquid during that time frame becomes quite important. Forex trading currently occurs actively from the official forex market open that occurs each week on Sunday afternoon at New York time in the New Zealand cities of Auckland and Wellington until the market eventually closes on Friday afternoon at New York time in New York City.
Although the forex market as a whole remains unregulated and without any official organization, these hours represent the effective and customary forex open times during which traders can execute foreign exchange transactions in currency pairs. After the New York close, a modest amount of afterhours forex trading might subsequently occur in the Midwestern U. This sort of trading is largely for banking clients.
Still, when the traders working at banks situated in those cities stop quoting and go home on Friday, the forex market effectively closes for the weekend. Each of the major trading centers has normal business hours that most banks and their professional traders keep each day, excluding weekends and bank holidays. In all cases, these hours overlap with the normal business hours of another major trading center. This overlap allows for the smooth and continuous progression of forex trading around the world.
The chart in Figure 1 shows the FX market hours of each major forex dealing center color coded by economic bloc or country. Figure 1: This chart shows the normal forex trading times of all of the major and minor forex trading centers using the time in New York City in the United States as the base time.
These trading centers include those in continental European cities like Frankfurt and Paris. A very important element to note about the above chart is that the business hours in one major financial center — such as London, New York and Tokyo — overlap with the business hours in another.
These overlaps correspond to times of considerably greater liquidity and trading volume due to the higher number of market participants currently active. In the over the counter and online electronic forex market, the three major trading sessions for currencies generally correspond to the normal banking business hours worked in the major cities of London, New York and Tokyo.
Each of these cities is the major money center in their respective countries of Great Britain, the United States and Japan. All of these major money centers have a large number of banks situated in them that actively make markets in a wide range of forex currency pairs.