The foreign exchange market runs around the clock on weekdays, but it is not equally busy at all hours.
The sessions
- Sydney and Tokyo: calmer for most pairs except those involving the yen and Australian or New Zealand dollars.
- London: the deepest liquidity for euro and sterling pairs.
- New York: strong for US dollar pairs, especially during the overlap with London.
Why it matters
Spreads are typically tightest when sessions overlap, and widest in the quiet hour at the daily rollover. If you trade a pair, test your broker's spread in the session that suits you.
Times shift with daylight saving, so check the current opening hours rather than relying on memory.
Risk warning: Trading forex and CFDs involves a high level of risk and may not be suitable for all investors. You may lose more than your initial investment.
Topicsforexsessionsliquidity