The main currency markets are the 3 biggest Forex trading centres namely - United Kingdom, United States and Japan. Typically they are termed as the Asian session, the European session and the U.S. session.
| The Asian Session |
Japan is the third largest Forex trading centre, and comprises about 10% of all Forex trading volume. Many of the world’s major banks and hedge funds have offices in Tokyo. In general, the Asian markets begin at around 7:00PM Eastern U.S. time. The other Asian centres include Singapore and Hong Kong. |
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| The European Session |
The European markets open at around 3:00AM Eastern U.S. time. Among the 3 main Forex trading centres, United Kingdom is regarded as the most important Forex trading market with London being considered the word’s capital of Forex trading. During this session, Forex market tends to be the most volatile and liquid. The other European centres include Frankfurt and Zurich. |
| The U.S. Session |
U.S. markets will open at around 7:00AM Eastern U.S. time, about halfway through the European trading session. Trading is especially active since both sessions overlap. With U.S. economic news release takes place in the early session, great volatility can be expected. Generally after midday in U.S., as European trading session winds down, liquidity and volatility begin to dissipate. |

