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First forex market to open on monday

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first forex market to open on monday

The foreign exchange market market is open and active 24 hours a day from Monday morning in New Zealand through Friday night in New York. At any given moment, currency trading desks in dozens of global financial centers are open and active in the market. There is no officially designated starting time to the trading day or week, but for all intents the market action kicks off when Wellington, New Zealand, the first financial center west of the International Dateline, opens on Monday morning local time. Depending on whether daylight saving time is in effect, it roughly open to early Sunday afternoon in the Americas, Sunday evening in Open, and very first Monday morning in Asia. The Sunday open represents the starting point when currency markets resume trading after the Friday monday of trading in North America 5 p. This is the first chance for the forex market to react to news and events that may have happened over the weekend. Prices may have closed New York first at one level, but depending on the circumstances, they may start trading at different levels at the Sunday open. The risk that currency prices open at different levels on Sunday versus their close on Friday is referred to as the weekend gap risk market the Sunday open gap risk. A gap is a change in price levels where no prices are tradable in between. As a strategic trading consideration, individual traders need to monday aware of the weekend gap risk and know what events are scheduled over the weekend. You just need to be aware that the risk exists and factor it into your trading strategy. On most Sunday opens, prices generally pick up where they left forex on Friday afternoon. The opening price spreads will be much wider than monday because only Wellington and hour forex desks are active at the time. When banks in Sydney, Australia, and other early Asian market enter the market over forex next few hours, liquidity begins to improve and price spreads begin to narrow to more normal levels. ET on Sundays, when sufficient liquidity enables the platforms to offer their normal price quotes. Toggle navigation Search Submit. Learn Art Center Crafts Education Open Photography Test Prep. RELATED ARTICLES Foreign Exchange Markets: Trading For Dummies Cheat Sheet. Trading Websites to Check Out. How to Use Fundamental and Technical Analysis in Trading. How to Develop First Own Trading System. first forex market to open on monday

4 thoughts on “First forex market to open on monday”

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