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  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: US 500: 0.21% Wall Street: -0.35% FTSE 100: -0.94% France 40: -1.21% Germany 30: -1.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Doo7fWrpDf
  • Markets have digested the realization that the rollout of the vaccine campaign does mean an immediate solution to the current economic and social problems. Get your market update from @HathornSabin here:https://t.co/6L1lXf8W82 https://t.co/29E7PkyyaV
  • The $DXY continues to hold above the psychological level of 90 and is testing around 90.30 this morning. $USD https://t.co/ZoLnf9pCDE
  • Germany 30 IG Client Sentiment: Our data shows traders are now net-long Germany 30 for the first time since Dec 11, 2020 when Germany 30 traded near 13,135.60. A contrarian view of crowd sentiment points to Germany 30 weakness. https://www.dailyfx.com/sentiment https://t.co/uMIVmW3vUW
  • ECB's Lane: - If favorable financing conditions can be maintained, maximum amount of asset purchases may not be necessary - Recent intensification of pandemic represents a significant downside risk, requires continuation of various fiscal support measures #ECB $EUR
  • ECB's Elderson: - Impact of the crisis on the European banking sector has yet to be fully revealed - Consequences of Brexit still need to be dealt with - It is "high time" to complete the EU banking union through institutional/regulatory architecture, deposit insurance #ECB $EUR
  • Italy's coalition Democratic Party (PD) wants Conte to resign and guarantees support for him as head of new government - PD Lawmakers $EUR
  • $NZDUSD is back above 0.7200 this morning, trading near one of January's key levels for the pair. $NZD $USD https://t.co/WIsB7K8Zus
  • UK PM Johnson to visit Scotland to make impassioned plea for Scotland to reject narrow separatism - The Sun $GBP
  • 🇺🇸 Chicago Fed National Activity Index (DEC) Actual: 0.52 Previous: 0.27 https://www.dailyfx.com/economic-calendar#2021-01-25
FX Market Hours

FX Market Hours

Thomas Long, Course Instructor

Three major trading periods define the daily FX market, namely the Tokyo Trading Session, the London Trading Session, and the New York Trading Session. Generally, the FX market is most active when sessions overlap with a US/Europe overlap between 8 AM - 12 PM (New York Time) and a Europe/Asia overlap between 2 AM - 5 AM (New York Time).

Tokyo Trading Session: 7:00 PM - 4:00 AM (New York Time)

Tokyo is the first market to open and many large participants use the trade momentum there to develop their strategies and as a gauge for future market dynamics. Approximately 6% of the world's FX transactions are enacted in the Tokyo Trading Session.

London Trading Session: 3:00 AM - 12:00 PM (New York Time)

London is the largest and most important trading center in the world, with about a 34% market share of the daily FX volume. Most of the world's largest banks keep their dealing desks in London because of that market share. The large number of participants in the London FX market and the high value of the transactions makes the London session more volatile than the other two sessions.

New York Trading Session: 8:00 am - 5:00 pm (New York Time)

The second largest trading market, New York handles approximately 16% of the world's FX transactions. The majority of the transactions in New York occurs during the US/Europe overlap; with transactions slowing as liquidity dries up and European traders exit the market. Since California has never served as a bridge between the US and Asia, there is a 50% drop in activity by midday. As a result, market developments in the afternoon during the New York session do not garner as much attention. The New York session is heavily influenced by the US equity and bond markets and pairs will often move closely in tandem with these capital markets.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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