Every trader in the Forex market knows that a lot of factors influence the exchange rates. A currency’s value depends on the macroeconomic situation in this currency’s home country. To make your trading profitable, you need to follow economic news regularly as well as be able to understand the meaning of various reports and indices issued by central banks.
We offer you the special Forex News section with a constantly updated newsfeed. The most important content is marked as News of the day.
Economic and financial news published on our website comes from the world’s leading analytical services and news agencies.
Forex news is an indispensable tool needed to predict rate movements. If the published macroeconomic data contradicts the current market trend, then its influence on market dynamics will be limited to several hours. Conversely, if the data confirms the trend, the latter will keep strengthening and may possibly rebound afterwards.
Listed below is the latest Forex news that reflects the situation in the global economy, finance, politics, and currency markets and has a direct impact on currency quotes.
Keep track of events and changes in the Forex world in order to take timely and effective decisions when trading.
Global financial floors and trading hours
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Trading sessions are particular time intervals when banks of various countries operate and trade actively.
The key feature of trading hours is 24/5 performance of the forex market, excluding national bank holidays. Saturday and Sunday are off days just like in most banks. The unofficial currency market works even on weekends, but making deals during these days is considered risky amid a smaller number of participants and higher chances of short-term changes in a trend. The latter are because one or several large banks of other regions execute client orders.
Currency and stock markets are located in different geographical zones. When one trading session ends, the other one opens and it ensures the 24-hour work of the market.
There are four major trading sessions:
- North American;
- European;
- Asian;
- Pacific.
Why is it important to know Forex trading hours?
1. If you know trading hours, you can sensibly arrange your schedule.
2. Every trading session has its own peculiarities, considering which you can profit from market possibilities.
3. The trading volume reaches its peak when Forex sessions overlap. During these periods, the most vigorous trading takes place.
Characteristics of trading sessions
The North American session has the highest market volatility. Financial capital New York starts operating at 13:00 UTC when US banks open and European dealers return from lunch. Usually at this time, the most important fundamental news come out and significant data is released. This session is the most aggressive one. The EUR/USD, GBP/USD, USD/CAD, USD/CHF, and GBP/CAD pairs are mainly traded.
The European session opens when activity at the Asian session fades away. The financial center is situated in London. The session and other trading hours overlap because of its geographical position. That is why the London floor has the highest trading volume. The most actively traded pairs are EUR/USD, GBP/USD, EUR/GBP, USD/CHF, GBP/CHF, and GBP/JPY.
The Asian session begins in Tokyo. Trading is moderate. The most popular pairs are USD/JPY, GBP/JPY, and AUD/JPY.
The Pacific session opens right after weekends. It is the calmest session. The financial center is situated in Wellington. Due to its low activity, this session is often combined with the Asian one.
Best forex trading time
During different trading sessions, the same currency pairs may be active or passive. To profit from trading, you should know market trading hours. Being aware of the four major sessions, you can find the best period for trading the currency pairs you choose.
Trading hours can always be at hand as there is a special indicator for trading platforms. The indicator for trading hours graphically shows separate trading sessions. After its installation, changes to DST are performed automatically. Besides, its users receive notifications of session opening and closure. However, this indicator will be of no use for those who trade in 4-hour time frames or open and close at intraday candlesticks.
The Swiss franc traded in a negative territory against its major counterparts in Europe on Wednesday, amid rumors of the Swiss National Bank intervention, ahead of the European Central Bank decision that is likely to expand stimulus measures.
Since the ECB is expected to loosen monetary policy again tomorrow, markets are blaming a possible SNB intervention as a weak euro would affect the currency exchange rate.
Majority of economists expect that the SNB may be forced to cut rates further below zero or intervene more heavily, if the ECB adds more stimulus.
Sentiment was underpinned by rising European stocks, in the wake of rally in oil prices.
The currency has been weaker against most major rivals in Asian deals.
The franc depreciated to 111.91 against the yen, a level unseen since October 2013. The next possible support for the franc-yen pair is seen around the 110.00 level.
Data from the Bank of Japan showed that the M2 money stock climbed 3.1 percent on year in February, coming in at 919.3 trillion yen.
That was shy of expectations for an increase of 3.2 percent, which would have been unchanged from the January reading.
The franc fell to a 9-day low of 1.0037 against the greenback and near a 3-week low of 1.4218 versus the pound, off its early highs of 0.9942 and 1.4133, respectively. If the franc extends slide, 1.015 and 1.44 are likely seen as its next support levels against the greenback and the pound, respectively.
The Swiss currency declined to 1.1000 against the euro, its lowest since February 23, and held steady thereafter. The franc is seen finding support around the 1.11 area.
Looking ahead, U.S. wholesale inventories for January and U.S. crude oil inventories data are set to be published in the New York session.
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Published: 2016-03-09 12:04:00 UTC+00
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