Forex never sleeps during the week, but it definitely has nap times.
The four sessions
| Session | Local hours | Personality |
|---|---|---|
| Sydney | 07:00–16:00 Sydney | The sleepy Monday opener |
| Tokyo | 09:00–18:00 Tokyo | Yen pairs wake up, ranges form |
| London | 08:00–17:00 London | The heavyweight: most volume of all |
| New York | 08:00–17:00 New York | US data at 8:30 am, gold goes wild |
The golden overlap
When London and New York are both open (roughly 8:00 am to noon New York time), liquidity is at its peak. Spreads are tight and the day's biggest moves often happen here.
Wick says
Pro move: trade the pairs whose currencies are awake. GBP pairs in London, JPY in Tokyo, USD and gold in New York.
When to avoid
- Around 5:00 pm New York, the daily rollover: spreads balloon.
- Friday afternoon in New York: liquidity dries up before the weekend.
- Sunday open: prices can gap from Friday's close.
Pro tip
Clocks change on different dates in the US, UK, Europe and Australia. Our live market hours tool does the maths in your time zone.
Key takeaways
- The week runs Sunday 5 pm to Friday 5 pm New York time.
- London is the biggest session; London + New York overlap is the busiest window.
- Avoid rollover and the Sunday open if you hate surprises.