Forex trading is conducted around the clock from Monday to Friday. Much less transactions are made on weekends, as the main participants – commercial and central banks, insurance companies, pension funds – do not work on Saturday and Sunday. Also, trading sessions do not open or are held less during national holidays: Christmas, Easter, Chinese New Year, etc.
The ability to trade Forex around the clock is due to the geographical location of the regions where the main currency trading takes place – that is, when one trading session ends, another begins. For convenience, there are 4 main regions where most transactions take place: Asian, Pacific, European and American. Each region unites several large cities where the main exchanges are located. For a list of cities per market, see the table below.
Thanks to the round-the-clock operation of the market, companies, banks, funds and private traders are able to make transactions with currency at any time. For convenience, the work of all centers is regulated by Eastern European Time – EET. In the table, the beginning and end of trading sessions is also indicated in the EET. Moscow time differs by + 1 or + 2 hours depending on winter or summer time.
Trading sessions on exchanges last an average of 9 hours. Translated to EET, trading in Asia goes from 10 pm to 6 am; in the Pacific segment – from midnight to 8 in the morning. The European Forex session lasts from 8 a.m. to 4 p.m., and the American – from 1 p.m. to 9 p.m.
Due to overlapping trading sessions, the number of transactions increases and volatility increases at certain times. There are three such intersections during the day: in terms of Moscow time, London and New York work simultaneously from 15:00 to 18:00, London and Tokyo – at 10:00, and the time schedules for the Asian and Pacific trading session in Moscow time are superimposed from midnight to 8:00