The foreign exchange market is a huge system consisting of foreign exchange markets in various financial centers. They are located in different developed and developing countries in the world, and the main foreign exchange markets are located in New York, London, Frankfurt, Hong Kong, Tokyo and Sydney.
The trading hours of a day in the foreign exchange market, as the earth moves, start from Sydney, then to Tokyo, Hong Kong, then Frankfurt, London, and New York as the end of the day. The foreign exchange market is different from other financial markets. Investors can respond to the impact of the world economy, society and people’s livelihood, natural weather and political changes anytime and anywhere. It is a market that can be traded 24 hours a day, 7 days a week.
Global foreign exchange market trading hours
General opening and closing time
Domestic banks’ foreign exchange treasure transactions are generally Monday to Friday from 9:00 to 17:00 (Beijing time) as normal trading hours, and 17:00 to 18:00 as settlement time. Of course, you can also trade from Monday to Friday at other times.
It is customary to start trading in Asia according to the trading hours of Japan, that is, 9:00 local time, 8:00 Beijing time, 00:00 global standard time (GMT time). The head office has option trading, and the trading time limit is 10:00 Beijing time. The Sydney foreign exchange market is the world’s first foreign exchange market to open every day, and the trading hours are 6:00-14:00 Beijing time. Usually exchange rate fluctuations are relatively calm, and the trading varieties are mainly Australian dollars, New Zealand dollars and US dollars.
The trading hours of the Tokyo foreign exchange market are approximately 8:00-11:00 Beijing time and 12:30-16:00 Beijing time. The trading varieties are relatively single, mainly concentrated in the yen to the dollar and the yen to the euro. As a large exporting country, Japan’s import and export trade receipts and payments are relatively concentrated, so it is vulnerable to interference.
The trading hours of the London foreign exchange market are from 17:00 Beijing time to 1:00 the next day. There are many types of trading currencies, often more than 30. Among them, the largest transaction is the pound against the dollar, followed by the pound against the euro, the Swiss franc and the yen. In the London foreign exchange market, almost all the major international banks have branches here. As they are connected with the trading hours of the New York foreign exchange market, they are the major ones from 21:00 to 1:00 the next day. The most active stage of currency fluctuations.
The trading hours of the New York foreign exchange market are from 21:00 Beijing time to 4:00 the next day. It is one of the important international foreign exchange markets, and its daily trading volume is second only to London. At present, more than 90% of the world’s US dollar transactions are finally settled through New York’s interbank clearing system, so the New York foreign exchange market has become the international settlement center for the US dollar. Except for the US dollar, the trading currencies of the major currencies are the Euro, British Pound, Swiss Franc, Canadian Dollar, Japanese Yen, etc.
Special closing time
The current trading hours of the foreign exchange market are from 5:00 pm Sunday afternoon New York time to 4:00 pm Friday afternoon, which means that foreign exchange transactions close at 4 pm Friday afternoon New York time. However, the current domestic traders are looking at Beijing time, so we convert it to Beijing time. The foreign exchange trading time of Beijing time is from 4:00 am on Monday to 3:00 am on Saturday. In other words, if converted to Beijing time, the foreign exchange closing time is early on Saturday morning, please note that it is not Friday.
One thing traders need to pay attention to is that the trading hours of different seasons and different foreign exchange trading platforms may vary slightly. Traders need to refer to the trading hours of the foreign exchange platform on which they have opened an account. Under normal circumstances, we do not recommend traders to hold positions over the weekend, because the risk will be relatively high. If there is a big macro news on the weekend, then traders may not have time to respond when the market opens on Monday.
As a foreign exchange trader, it is very necessary to know the specific foreign exchange opening and closing time, and in addition to understanding the domestic trading time, it is also necessary to understand the opening and closing time of various markets in the world. This will not only effectively avoid risks as mentioned above, but also allow traders to find better trading hours. For example, 8 pm to 12 pm Beijing time is the overlapping trading hours of the European and American foreign exchange markets. At this time, the market is very active and there are many trading opportunities, which is a good time to place orders.