I've looked around but there are different answers? On Sunday, is there a set time for the market to open? The largest banks in the interbank network do not close over the weekend, although on weekends they may be manned by minimum staff.
These banks are available to one another, and to their largest customers, to transact essential business regardless of time of day, or day of the week. The retail forex market our little corner of the worldwide currency market closes for the majority of the weekend, because that's the way retail forex brokers generally choose to do business. Generally, retail forex brokers close trading for the week at about the time that the normal business day ends in New York. The actual weekly close of retail trading varies somewhat, from broker to broker.
And generally, retail forex brokers open trading for the week at about the time that the normal business day begins in New Zealand. The actual weekly opening of retail trading varies somewhat, from broker to broker. If you trade through a U. Don't be surprised if the actual opening time varies from week to week. And don't be surprised if the various currency pairs do not open simultaneously. In the final analysis, the answer to your question when does the market open on Sunday?
When the market opens on Sunday should strictly be as a point of interest, and most definitely not for trading. Clint had a good answer to this question but I'll try to explain in another way. The FX market technically never closes but there are some major global markets that influence when most retail brokers make trading available.
The first major market to open on "Sunday" is Sydney, Australia at 5: The Sunday trading day begins in Sydney, Australia at 5: Two hours later, at 7: Next, Singapore and Hong Kong open at 9: The US markets open first in New York around 8: I hate to nit-pick your post, but I think some confusion has been introduced into the discussion of "when the retail forex market opens".
Currently, time zones are: Your point about Australia being the first "major" market to open for the week is well taken. New Zealand which opens 2 hours ahead of Australia should be de-emphasized in this context, because its contribution to daily forex trading volume is tiny compared to the other markets. The 7 markets listed above are listed in geographical order from east to west. This is the order in which they open on a daily and weekly basis. Notice the dramatic increase in trading volume from one market to the next, as daybreak moves westward from the relatively tiny 9 billion USD of New Zealand to the 1, billion USD of the London Session the lb gorilla of the forex market.
I think it would be instructive to have a graphic of these Session volumes, showing how they overlap in a hour trading day. I'm going to work on that. Regarding trading hours, we have no plans to change trading hours and I'll let you know in advance if trading hours do change. I have just identified serious errors in my last post. I'll have to drastically edit the thing and I'll do that later today. But, first, I want to make sure that you and I are using the same criterion for the "opening" of a trading session.
I use 8am, local time, as the "opening" time for retail forex in each market. So, the Australian market opens at 8am, Sydney time; the Tokyo market opens at 8am, Tokyo time; etc. Are you basing your time conversions on 8am, local time, as well? Using the 8am local time criterion, the Australian market currently opens at 6pm New York time not 5pm, as you stated in your previous post.
Using the same criterion, beginning October 2 when Australia goes onto daylight saving time, the Australian market will open at 5pm New York time not 4pm, as I stated in my last post.
Finally, beginning November 6 when the U. Please let me know whether you are using 8am local time as the "opening" time for the various markets. I hope we haven't created hopeless confusion for sandpiper7 the original poster. For my part, I should never attempt to grapple with time zones, or do time conversions, when I'm dead-tired. You've opened a can of worms here, because time zones and time conversions always tend to be a can of worms!
But why do quotes begin moving only at 1 pm ET on Sunday? At the Bloomberg website or at any website which displays interbank rates. At following link "disallowed" and many others they show Sydney opening time same as you have pointed above at 6pm ET GMT.
Does Sydney always open at For our purposes, that means all the Asian markets, plus South Africa. But, to make matters worse, most of the countries which observe DST change their clocks on different dates. That's why newbies are so baffled by all the time shifts, and why we spend so much time in this forum trying to explain it all. This will help you: When does the market open on Sunday? Please give the timezone you're referring to in your answer, thanks.
Markets are closed Sundays. They open Monday morning in Austrailia. Hello, sandpiper7 The largest banks in the interbank network do not close over the weekend, although on weekends they may be manned by minimum staff. Here's a list of Market Open times: Jason, I hate to nit-pick your post, but I think some confusion has been introduced into the discussion of "when the retail forex market opens".
The portion of your post quoted above should read: Hi, Jason We you and I need to synchronize our clocks. But, hang in there for a bit, we'll get this straightened out. The largest banks in the interbank network do not close over the weekend But why do quotes begin moving only at 1 pm ET on Sunday? The other major forex markets adjust to DST twice per year.More...