| Session | Opens | Closes | Character |
|---|---|---|---|
| Sydney | 00:00 or 01:00 | 09:00 or 10:00 | Thin, AUD and NZD pairs |
| Tokyo | 02:00 or 03:00 | 11:00 or 12:00 | JPY pairs, moderate |
| London | 10:00 or 11:00 | 19:00 or 20:00 | Deepest liquidity of the day |
| New York | 15:00 or 16:00 | 00:00 or 01:00 | High volume, US data |
| London and New York overlap | 15:00 or 16:00 | 19:00 or 20:00 | Tightest spreads, largest moves |
| Pair | Most active window |
|---|---|
| USD/ZAR | 10:00 to 19:00, peaking in the overlap |
| EUR/USD | 10:00 to 19:00 |
| GBP/USD | 10:00 to 19:00 |
| USD/JPY | 02:00 to 11:00 and again in the overlap |
| AUD/USD | 00:00 to 09:00 |
| Gold | 15:00 to 20:00 |
| Time | What happens |
|---|---|
| Sunday about 23:00 | Sydney opens, the week begins |
| Monday to Thursday | Continuous trading |
| Friday about 23:00 | New York closes, the week ends |
| Weekend | No trading; gaps at the open are common |
| Daily rollover, about 00:00 | Swap charged or credited, spreads widen briefly |
Data maintained by TradeAnswers · updated as the figures change