What are the opening and closing prices of foreign exchange
The opening price, also known as the opening price, refers to the first transaction price of a certain currency after the market opens on each trading day. Most financial exchanges in the world use the principle of maximum turnover to determine the opening price. The closing price refers to the transaction price of the last transaction of a certain currency before the end of one day’s trading activity. If there is no transaction on the day, the most recent transaction price will be used as the closing price, because the closing price is the standard of the current day’s market and the basis for the opening price of the next trading day, which can be used to predict future market conditions; therefore, investors analyze the market. Generally, the closing price is used as the basis for calculation.
Foreign exchange opening and closing prices
The foreign exchange market is a 24-hour uninterrupted market, from the market opening in the Marshall Islands at 4 am Beijing time to the closing of the US at 4 am the next day Beijing time. Normally, we all believe that the global foreign exchange market is It starts at 4 a.m. on Monday, Beijing time, and ends at 4 a.m. on Saturday, but in fact, the global foreign exchange market is not closed on Saturdays and Sundays, because Arab countries do not rest on Saturdays and Sundays, they are closed on Friday Therefore, under normal circumstances, large foreign exchange transactions on Saturdays and Sundays will be transferred to the foreign exchange trading center in Dubai. The opening time in Dubai is from 10:00 to 16:00 local time (Beijing time 14:00-20:00) , And for each bank, foreign exchange assets such as traveler’s checks will still be accepted on Saturdays and Sundays. So back then, the Minister of Japan, Miyazawa Kiichi once said boldly, “There are no holidays in the foreign exchange market.”
As for the opening and closing that we usually see, it is because your broker or trading bank has a rest. Some brokers or trading banks do not rest throughout the year, especially some banks in the United States, such as Citibank, Chase Bank, and the United Kingdom. Both Barclays and National Westminster Bank are open throughout the year. As long as you call a local branch, their Call Center system will automatically be transferred to the corresponding area.
Domestic banks’ foreign exchange treasure transactions are generally Monday to Friday from 9:00 to 17:00 (Beijing time) as the normal trading hours, and 17:00 to 18:00 as the 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 major international banks have branches here. Because 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 U.S. dollar, the trading currencies of the major currencies are Euro, British Pound, Swiss Franc, Canadian Dollar, Japanese Yen, etc. in order.
According to statistics, the average daily trading volume in the international foreign exchange market is approximately US$1.5 trillion, of which New York, Tokyo and London are the world’s largest trading centers.
The world’s major foreign exchange markets-opening and closing time (Beijing time) (note that European and American countries implement daylight saving time)
New Zealand’s Wellington foreign exchange market: 04:00-12:00 (winter time); 05:00-13:00 (daylight saving time).
Australia Sydney foreign exchange market: 06:00-14:00 (winter time); 07:00-15:00 (daylight saving time).
Tokyo foreign exchange market: 08:00-14:30
Singapore Foreign Exchange Market: 09:00-16:00
Forex market in Frankfurt, Germany: 14:00-22:00
London foreign exchange market: 16:30-00:30 (winter time); 15:30-23:30 (daylight saving time).
New York Foreign Exchange Market: 21:20-04:00 (winter time); 20:20-03:00 (daylight saving time)
Hong Kong, China: 09:00-16:00
Note: The international stipulation that winter time starts from the second week of November to the first week of March of the following year; daylight saving time is all time except winter time.
How to choose the foreign exchange trading time?
The foreign exchange trading time is 24 hours, and the foreign exchange trading time is basically concentrated at 8: 00-23: 00 Beijing time, which is very beneficial for investors in China and is in line with the schedule of Chinese investors. So how to further choose the foreign exchange trading time? Mainly depends on the characteristics of each foreign exchange trading time period. Take Beijing time (24-hour clock) to illustrate:
- 8:00-12:00 is the active time for the Asian and Australian markets. It is a time period for foreign exchange market adjustments, with low risks and low returns. It is an unsuitable time period for foreign exchange transactions.
- 12:00-15:00, on the eve of the opening of the European foreign exchange market, the volume of foreign exchange transactions is gradually increasing. It is the stage of foreign exchange market gestation, with risks and low returns. It is a suitable foreign exchange trading time period for holding positions.
- 16:00-18:00, a period of time when the European foreign exchange market starts trading. It is a period of foreign exchange market fluctuations with high risks and high returns. It is suitable for trading but not suitable for temporary positions.
- 19:00-20:30, the time period for foreign exchange trading at noon in Europe and early morning in the Americas, is the second time period for foreign exchange market adjustments, with low risk and low returns, suitable for opening positions.
- 21:00-24:00, this period is the time when the American market and the European market are trading at the same time. It is also a time period when the market is mainly volatile. It has high risks and high returns, suitable for trading but not suitable for temporary positions.