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Forex market hours accessible to you will be dependent completely on your location. If you need to know the particular times that the Forex markets open and close, you also have to take time zones into account. It is a breeze when expressed in UTC. It is Universal Coordinated Time, initially known as Greenwich Mean Time. This is the standard (winter) time in Greenwich , the location of zero longitude on the globe.
So, the normal forex market hours are 22.00 Sunday UTC to 22.00 Friday UTC. It is 10 pm in the UK in mid-winter.
Though it is not a 24 hours/7 days a week market simply because it does shut down on Saturdays and Sundays. 24 hours/5 days a week would definitely be more accurate.
New York City is five hours behind the UK so the global financial market opens and closes at 5 pm Sunday-Friday in New York, 2 pm on the US west seaboard, 11 pm in Munich, Germany, 8 am Monday-Saturday in Sydney.
Times soon get a little more confusing when you start to try to take daylight saving into consideration. This will make one hour alteration in locations that observe it. Even so daylight saving will work in a different way in the southern hemisphere countries such as Australia which have summer months from September until March instead of March till September.
The hours of the various most important global currency markets are as follows:
Sydney: 10 pm to 7 am UTC
Tokyo: 12 midnight till 9 am UTC
London: 8 am until 5 pm UTC
New York: 1 pm till 10 pm UTC
Or we can express that in (Eastern Standard time):
Sydney: 5 pm till 2 am EST
Tokyo: 7 pm till 4 am EST
London: 3 am until 12 noon EST
New York: 8 am to 5 pm EST
You will see that these correspond to 24 hr coverage.
However, that will not automatically mean that trading is definitely good at all of those times. Just after a primary market opens, the prices can become very volatile and changeable. Many traders will keep away from the trading market for roughly an hour 4 times a day when the trading markets are waking up in these major cities.
The $US is the most frequently traded forex by a long way, involved in 2.5 times as many trades as its nearest rival the euro. This suggests that issues in the US have a greater influence on the financial markets than events in other regions. The New York market has a tendency to decline around 3 pm local time (8 pm UTC) and if you are involved in a US dollar pair, this could very well be a great time to finish trading for the session.
So in theory you can trade 24 hours per day from Sunday night until Friday night. Autopilot software in the form of a forex robot can perhaps even make this physically possible. In spite of this, a meticulous trader will pick his times and might not be active during all of the forex market hours.
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