The foreign exchange market convenes from Monday morning in Mumbai, India to Friday afternoon in New York. All day and night at least one place on the globe, forex is traded.
This would in actuality be appropriate in weekdays only as the market is closed on weekends. 24/5 would be more accurate.
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If you seek to know the precise times that the markets open and close, you have to take time zones into consideration. A great means to do this would be to use UTC units.
It was earlier known as GMT which is Greenwich Mean Time and is presently UTC expanding to Universal Coordinated Time. It’s in fact the standard time in London, Greenwich to be clear-cut which also happens to be explicitly zero longitude on the globe.
So, the usual currency market hours are 22.00 Sunday UTC to 22.00 Friday UTC. In UK wintertime its 10 pm.
New York is 5 hours behind the UK so the worldwide FX market commences 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.
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Expressly, here are the hours of substantial global markets:
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
Illustrated in EST (Eastern US time):
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
From this it can be seen that the markets are in a way open 24 hours globally.
However, this does not certainly mean that trading will be good at all of these instances. Early minutes of post opening trading in weighty markets are usually delineated by extremely unstable price movements.
A huge number of traders knowingly refrain from avoid trading from 1 to 4 hours daily during the 4 opening times of heavyweight bourses.
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In theory then, trading can be accomplished from Sunday night until Friday night, 24 hours daily. Tangibly, In actuality, this is made viable foreign exchange software bots.
But the prudent trader trades during optimal times and is accordingly not trading during the entire operating hours of the foreign exchange market.
Disclaimer: Foreign Exchange trading is high-risk, may result in substantial losses, and is not appropriate for everyone.
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