Currencies & Commodities are traded 24 hours a day and 5 days a week .Trading Market opens Monday morning in Wellington, New Zealand and stay open till the Friday night in New York. It provides a great opportunity for traders to trade at any time of the day or night. The best time to trade is when the market is the most active and therefore has the biggest volume of trades.
Each trading day can be divided into three trading sessions, depending on the financial center active during a specific period of time. The time each session opens and closes at is based on the local business hours:
Forex trading hours, Forex trading time:
Sydney opens at 22:00 and closes at 06:00 (GMT)
Tokyo opens at 00:00 and closes at 08:00 (GMT)
London opens at 08:00 and closes at 16:00 (GMT)
New York opens at 13:00 and closes at 21:00 (GMT)
The Asian session begins with the Sydney open (22:00 GMT) and ends with the Tokyo close (08:00 GMT).
Japan is the world’s third largest forex trading center therefore we call it the Tokyo session, The most traded currency in this session is the yen. Approximately 21% of all forex transactions are carried out here.