Sessions and liquidity
Forex Market Hours: Sydney, Tokyo, London and New York
Understand the daily liquidity cycle, session overlaps and how daylight saving changes local trading times.
Answer first
What you should remember
- Forex trades around the clock on weekdays but liquidity is not constant.
- A pair is usually most active when its currency centers are open.
- Daylight saving changes session times when converted to your location.
Why sessions matter
Activity passes from Australia and Asia to Europe and North America. Local institutions, releases and market opens concentrate liquidity, so the same pair behaves differently across the day.
Asian and European sessions
Sydney starts the cycle followed by Tokyo, with AUD, NZD and JPY often more responsive. London brings deep liquidity to EUR and GBP and frequently reassesses the Asian range.
New York and the overlap
The London-New York overlap is among the busiest periods for major pairs, combining both flows with important US releases. Higher activity can improve liquidity while increasing speed.
Daylight saving and holidays
London, New York and Sydney do not switch daylight saving on the same date, so offsets shift during parts of the year. Use an updated timezone conversion rather than one fixed table.
Direct answers
Frequently asked questions
When does forex open?
The weekly cycle begins Sunday evening in New York and runs to Friday evening, with liquidity and holiday variations.
What is the busiest overlap?
Usually the London-New York overlap for majors, though news can make it highly volatile.