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What Time Does the Forex Market Open?

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Basically, Forex begins work on Monday, early in the morning, an hour or two after midnight.

Which days of the week can you trade?

Similar to the typical work week — Monday to Friday.

All financial markets where assets are bought and sold are directly tied to the working days of the exchanges. These markets, like many other enterprises and institutions, operate on a five-day working week. That is, from Monday to Friday, with two days off – Saturday and Sunday. The currency market is no exception to the rule.

Basically, Forex begins work on Monday, early in the morning, an hour or two after midnight. It finishes work on Friday, along with the last American trading platforms. Money revolves around the earth following the time zones. While people sleep soundly at one end of the planet, active trade on exchanges is being conducted on the other side. In order to trade successfully, any respected trader should know when trading sessions being in a particular part of the world and when they end. This is the first step to making smart trading decisions, and in return, big money.

Obviously, each trading session and region has its own peculiarities, which we will try to highlight.

There are three main trading sessions/regions: Asia-Pacific, Europe, and America.

Asia-Pacific Trading Session

When does the Sydney stock exchange open and close?

Work starts at 21:00 GMT & finishes at 5:00 GMT.

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What time does the Asian Forex market open?

Tokyo stock exchange trading starts at 23:00 GMT & closes at 7:00 GMT.

On Monday, forex begins its work week and the first traders are initiated in the Wellington, New Zealand exchange. This happens on Sunday at 22:00 Greenwich Meridian Time (GMT), which is often used as the default time for financial markets. After an hour, the exchange in Sydney joins in on the fun. After another 2-4 hours, Tokyo, Hong Kong, and Singapore are all actively involved in the trade game.

The course of trading in these hours is rather underwhelming, and the levels of activity are relatively low. There are exceptions, of course, which usually come in the form of important news releases. Australia, Japan, and China are the biggest and most active players during this session. Therefore, currency pairs containing the yen, the Australian and New Zealand dollars show the highest levels of volatility.

When China enters the trade, you will likely want to follow this session very carefully. If the EUR/USD pair is actively growing in price, it is very likely that this growth will continue, at least until the beginning of the American session. The reason for this is the fact that China is the world’s largest owner of US currency, with the exception of the United States. If China starts to get rid of dollars in favor of the euro, then it leaves an imprint on the entire trading day.

European Trading Session

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When does the London stock exchange open and close?

It opens at 7:00 GMT & closes at 15:00 GMT.

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When does the Frankfurt stock exchange open and close?

Trading starts at 6:00 GMT & finishes at 14:00 GMT.

At 5:00 Greenwich Mean Time (GMT), the stock exchanges in Frankfurt, Paris, and Zurich begin their work. An hour later, one of the world’s largest stock exchanges, the one in London, joins them. This is often the time during which trading becomes genuinely active and currency pairs are actively traded with the euro, the British pound, and the Swiss franc. Particular attention should be given by the trader to the release of important news in the Eurozone, especially in the UK. These kinds of impactful news can produce significant rallies on the currency market.

The European trading session is usually characterized by changing the Asian trend, which often continues the trend set by America. Also, this session is characterized by an increase in the price of euros. Of course, this is true in the absence of bad news or in the case of positive news circulating the Eurozone. However, if you are trading pairs with the British pound, then you should rely on news specifically from and for the UK. Prices can jump up to 100-150 points per session sometimes, so you must always be careful and attentive.

The greatest levels of activity in this session are observed in the first 3-4 hours after opening. Afterwards, a decline in trading activity begins, which coincides with the lunch break on these exchanges. Activity returns with the entry of the American exchanges.

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American Trading Session

When does the New York stock exchange open and close?

It starts work at 12:00 GMT & wraps up at 20:00 GMT.

From 13:00 GMT, trading begins in Toronto and New York, and an hour later in Chicago. The American trading session is considered to be the most aggressive and most volatile. Many traders, regardless of where they live, try to trade exclusively on it, and manage to earn good money doing so. Most of the activity concerns the EUR/USD, GBP/USD, USD/CHF, and pairs with the Canadian dollar (CAD).

Around lunchtime is when important economic-related news usually comes out, after which trade in the market experiences substantial boosts. This kind of active trading is observed for about 4 hours. Afterwards, a steady decline. This is mainly due to the fact that the American stock exchanges are closed for a break, brokers go to get lunch, and the European stock exchanges finish their work altogether.

By 17:00 GMT, only US stock exchanges remain on the entire foreign exchange market. Given that the market at this moment is quite thin, traders can drastically change the exchange rate of any pair, should a large investor enter the market. Most often though, trading in these hours is relatively calm.

The closure of the financial market takes place with the closure of the Chicago Stock Exchange at 20:00 GMT.

On the weekend, trading does not occur, and the Forex market remains closed until Monday, before opening the stock exchange in Wellington and beginning the new work week.

Knowing the working hours of the different trading sessions in the world’s currency market can help a trader to not only decide on the time that should be devoted to analyzing the market, but also to gain an understanding of which currencies are best to work with at a particular moment in time.