Because forex trading hours extend from Sunday afternoon until Friday afternoon, forex offers around-the-clock opportunities to make money. This currency market pits the value of one country’s money against the value of another country allowing investors to take advantage of worldwide events. Best of all, these financiers can make their trades in real time; they are not forced to wait until the New York currency exchange opens at 8 AM Eastern Standard Time.
The Market Is Available Anytime
Many investors have full-time jobs and are unavailable between 8 AM and 5 PM during the week. The foreign exchange allows these enthusiastic participants to manage their own retirement funds at their convenience. Although the New York currency market is only opened from 8 AM until 5 PM, Australia’s market opens at 5 PM and closes at 1 AM. The active Chinese currency trading begins at 9 PM and closes at 5 AM while London starts at 3 AM and runs until 11 AM. Of course, Tokyo time is from 7 PM until 4 AM while Frankfurt operates from 2 AM till 10 AM. All times are Eastern Standard Time.
Something Is Always Happening
Economic developments around the world move this marketplace. When a fire erupts in an oilfield in Saudi Arabia, oil prices are affected. Oil producing countries may see their currency increase in value while higher oil prices negatively impact countries that import large quantities of this liquid gold. With Forex trading hours, orders are placed and filled any time at the current market currency rate.
Taking Advantage of Current Events
There is no need to wait until the New York currency exchange opens at 8 AM if breaking news happens at 10 PM or 3 AM. A change in a government somewhere, economic news releases regarding gross domestic products, interest rates or trade balances or natural catastrophes change the value of currency instantly. Because this market is almost always open, traders analyze information and place orders in time to take advantage of the latest data.
The Forex exchange is the largest, most active market in the world moving one to one and a half trillion dollars a day. This market never sleeps as the Forex trading hours extend from Sunday afternoon until Friday afternoon. This offers three advantages to serious traders: investors can work anytime they choose, the market reacts instantly to worldwide events and people take advantage of these market swings.