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4 Major Foreign Exchanges (Forex) in the world - Know the Market Hours
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Features of Forex market trading practices
Forex trading is a decentralized market that operates through multiple financial centers around the world.
Because these financial centers are located in different time zones, the foreign exchange market is open 24 hours a day, five days a week.
Because major market participants including various financial institutions, large funds, companies and banks enter the weekend to rest, Friday will be the last day of money market operations.
According to different trading hours, the foreign exchange market can be divided into different trading hours.
Forex trading hours are not only different in names and special work schedules, but also in specific aspects of transactions.
In each period, there is a “special” currency with high volatility, whose volatility is affected by basic economic factors.
| Time period | City | Open (EET*) | Closing (EET*) |
|---|---|---|---|
| Pacific Ocean | Sydney | 0:00 | 9:00 |
| Asia | Tokyo | 2:00 – 3:00 | 11:00 – 12:00 |
| Europe | London | 10:00 | 19:00 |
| America | New York | 15:00 – 16:00 | 0:00 – 1:00 |
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Pacific trading hours
When the Pacific region entered local time on Monday, the foreign exchange market began to open.
This period is characterized by relatively small fluctuations.
In fact, this is the calmest period in the market.
Asian Trading hours
Immediately after the Pacific time is the Asian time.
During this period, currency pairs including the U.S. dollar (USD), euro (EUR), Japanese yen (JPY) and Australian dollar (AUD) will be actively traded during this period.
The trading activity of the Australian dollar (AUD) is caused by the overlap of the trading hours and working hours in the Pacific region.
European trading hours
The opening of European trading hours starts from the opening hours of financial centers such as Frankfurt, Zurich and Paris.
However, trading really became active only after the London market opened.
At lunchtime, there will usually be a trading low, and trading activities will become active again when night falls.
During the European trading hours, there will be relatively strong volatility, because a large enough currency turnover will occur in the European region.
U.S. trading hours
The most active time in the foreign exchange market began at the beginning of the US trading session, because this time period coincided with the beginning of New York trading and the time when European trading continued to develop.
Particularly important fundamental news will be announced at the beginning of the US trading session.
It is characterized by extremely active trading, especially before the close of trading on Friday.
