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A Global Market
Forex market operates globally 24 hours
a day, starting from the far east, in New Zealand (Wellington),
passing the time zones in Sydney, Tokyo, Hong Kong, Singapore, Moscow,
Frankfurt-on-Main, London, then finishing the day in New York and Los
Angeles.
The western investment and commercial banks starts at 7:30 am local
time. The most active deals are done is the far east, consisting of
transactions in U.S. Dollar to the Japanese Yen, the U.S. Dollar to
the European Euro, Euro to Yen, and the Dollar to the Australian
Dollar. The focus often lies on the USD/JPY exchange rate, especially
when the market rumors about intervention by the Japanese Central
Bank.
At 7:00 am GMT time, the market in the European financial centers of
Zurich, Frankfurt-on-Main, Paris, Luxembourg are open. However, the
real powerful movement of the exchange rate starts after 8:00 am GMT
time, when the London market is opened.
At 12:00 pm, GMT time the market is open. American bank dealers start
working, and European dealers are back from their lunch. Forex dealers
look forward to the opening of the New York market in order to receive
fresh data about a possible movement of the rate.
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US/CDN MARKET |
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ASIAN MARKET |
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EUROPE |
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EUROPE |
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PST |
5a |
6a |
7a |
8a |
9a |
10a |
11a |
12p |
1p |
2p |
3p |
4p |
5p |
6p |
7p |
8p |
9p |
10p |
11p |
12a |
1a |
2a |
3a |
4a |
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EUR/USD |
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