What Are Forex Market Hours?The forex market hours stretch from Monday morning in Sydney, Australia to Friday afternoon in New York. During that time the market is open somewhere around the globe at all hours of the day or night. However it is not a 24/7 market because it does shut down on weekends. 24/5 would be more accurate. But lets be reasonable, that offers lots of opportunity to make trades! If you need to know the exact times that the markets open and close, you have to take time zones into consideration. It is very simple when expressed in UTC. This is Universal Coordinated Time, formerly known as Greenwich Mean Time. This is the standard (winter) time in Greenwich, London which is the point of zero longitude on the globe. So, the normal forex market hours are 22.00 Sunday UTC to 22.00 Friday UTC. New York is 5 hours behind the United Kingdom so the global foreign exchange market opens and closes at 5 pm Sunday/Friday in New York, 2 pm on the US west coast, 11 pm in Germany, 8 am Monday/Saturday in Sydney. Things get a little complicated when you start to try to take summer time daylight saving into account. This makes one hour difference in countries that observe it. But daylight saving operates in a different way in the southern hemisphere countries such as Australia which have summer time from September to March instead of March to September. The hours of the different major national currency markets are as follows: Sydney: 10 pm to 7 am UTC Tokyo: 12 midnight to 9 am UTC London: 8 am to 5 pm UTC New York: 1 pm to 10 pm UTC In EST (Eastern Standard Time (North America): Sydney: 5 pm to 2 am EST Tokyo: 7 pm to 4 am EST London: 3 am to 12 noon EST New York: 8 am to 5 pm EST However, this does not necessarily mean that trading will be good at all of these times. Just after a major market opens, the prices can be very volatile and unpredictable. Many traders will stay out of the forex market for up to an hour four times a day when the financial markets are waking up in these major cities.
The US dollar is the most traded currency by a long way, involved in around 2.5 times as many trades as its nearest rival the euro. This is largely because of the role of the dollar as the world's reserve currency. Should the dollar lose this coveted status, it will almost certainly cause major changes in currency markets. This means that events in the USA have a greater impact on the financial markets than events in other countries. The New York market tends to slow down around 3 pm local time (8 pm UTC) and if you are involved in a US dollar pair, this can be a good time to stop trading for the day. Automated software in the form of a forex robot can make it possible to trade non-stop all week. A cautious trader will probably choose his times and trades carefully and not be active during all of the forex market hours. To learn more about currency trading, please follow thhe links below:
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