The forex market is always open 24 hours a day, 5 days a week. How is this possible? Well, this is because of time differences. At any given time during the week, one of the important trading centres will be open for business.
These 9 places shown below are the important world trading centres because most of the forex currency transactions and or speculations take place at these centres (or through these centres):
- New York,
- Hong Kong,
- and Paris.
There are three main forex market trading sessions (or you may call it forex market hours)
- the London/Europe trading session
- The New York Trading Session
- And the Asian Trading Session (that includes Sydney, Hong Kong, Tokyo)
As you can see in the table below, there is a bit of overlap in the forex market trading sessions.
What this means is that the forex market follows the sun around the world…
When London is getting into the evening in London and Europe, the New York Trading Session is on.
When New York sleeps, Sydney and Tokyo Trading Session begins for the day.