FOREX · Beginner · 7 min read · 3 Nov 2026 · Navion Pro Research
The Forex Trading Day: Asia, London and New York Sessions
The forex market never sleeps on a weekday. As one financial centre closes, another opens. But not every hour is the same. This guide explains the three main sessions, when they run in US Eastern time, and why the busiest hours matter.
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Key Points
- Forex trades around the clock from Sunday 17:00 to Friday 17:00 ET, following the working day from Asia to London to New York.
- Each session has its own character. The busiest hours come when two sessions overlap, especially London and New York from 08:00 to 12:00 ET.
- All times here are US Eastern time. New York's session stays the same all year. Asia and London move in ET when clocks change.
- Spreads tend to be widest in the quiet hour after 17:00 ET, when the trading day rolls over.
How the forex day works
Forex has no single exchange. Banks and dealers trade with each other in financial centres around the world. As the working day moves west, trading passes from one centre to the next.
The week starts on Sunday at 17:00 ET, when the Asia Pacific region begins its Monday morning. It ends on Friday at 17:00 ET, when New York closes. The trading day itself rolls over at 17:00 ET, which is when swaps are applied to positions held overnight.
The three sessions in US Eastern time
Session times are not fixed rules. They follow the normal working hours in each centre, so treat them as a guide.
| Session | US on daylight time (EDT) | US on standard time (EST) |
|---|---|---|
| Asia, centred on Tokyo | 20:00 to 05:00 ET | 19:00 to 04:00 ET |
| London | 03:00 to 12:00 ET | 03:00 to 12:00 ET |
| New York | 08:00 to 17:00 ET | 08:00 to 17:00 ET |
| London and New York overlap | 08:00 to 12:00 ET | 08:00 to 12:00 ET |
The US is on daylight time (EDT) from the second Sunday in March to the first Sunday in November, and on standard time (EST) for the rest of the year.
US on daylight time (EDT)
Overlaps: 03:00 to 05:00 and 08:00 to 12:00
US on standard time (EST)
Overlaps: 03:00 to 04:00 and 08:00 to 12:00
How daylight saving moves the sessions
New York's session stays at 08:00 to 17:00 ET all year, because it follows US clocks. Other centres keep their own clocks, so their sessions move when the US changes time.
- Tokyo. Japan does not use daylight saving. When the US moves its clocks forward in March, the Asia session starts 1 hour later in ET, at 20:00 instead of 19:00. It moves back in November.
- London. The UK uses daylight saving too, but changes its clocks on different dates: the last Sunday in March and the last Sunday in October. For most of the year, London opens at 03:00 ET. In the few weeks when only one country has changed its clocks, from the second Sunday in March to the last Sunday in March, and from the last Sunday in October to the first Sunday in November, London opens at 04:00 ET and the overlap with New York runs from 08:00 to 13:00 ET.
- Sydney. Australia's working day starts the Asia session. Its daylight saving runs in the opposite season, from October to April, so the Sydney open also moves in ET through the year.
When clocks change, check the session times again. A release or an open you expect at one time in ET can arrive an hour earlier or later.
The Asia session
The Asia session is often the calmest of the three. Trading centres on Tokyo, with Sydney, Hong Kong and Singapore also active.
- Pairs to watch: those with the Japanese yen, the Australian dollar and the New Zealand dollar, such as USD/JPY, AUD/USD and NZD/USD.
- What moves prices: data from Japan, Australia, New Zealand and China.
- What to expect: moves are often smaller, and some pairs trade in narrow ranges until Europe wakes up.
The London session
London is the largest forex centre in the world, so its session is often the busiest single stretch of the day.
- Pairs to watch: those with the euro, the British pound and the Swiss franc, such as EUR/USD, GBP/USD and EUR/GBP.
- What moves prices: data from the euro area and the UK, and European central bank decisions. European Central Bank decisions come at 08:15 ET for most of the year, and 09:15 ET in the weeks when US and European clocks are out of step.
- What to expect: trading picks up sharply at the open, and many of the day's biggest moves start here.
The New York session
The New York session brings US data and US traders into the market.
- Pairs to watch: all pairs with the US dollar, plus the Canadian dollar in USD/CAD.
- What moves prices: major US releases, which usually come out at 08:30 ET, and Federal Reserve decisions at 14:00 ET. Both times stay the same all year.
- What to expect: a busy morning while London is still open, then quieter trading in the afternoon after London closes.
The overlaps, and the quiet hours
| Time (ET) | What is happening | What it can mean |
|---|---|---|
| 08:00 to 12:00 | London and New York are both open | The most trading, often the tightest spreads and the biggest moves |
| 03:00 to 04:00 (EST) or 03:00 to 05:00 (EDT) | Tokyo and London are both open | A short pick up in yen and euro pairs |
| 12:00 to 17:00 | Only New York is open | Activity often fades through the afternoon |
| 17:00 to 18:00 | The daily rollover | Liquidity is thin and spreads are often at their widest |
A pattern, not a rule.
An example: planning around the sessions
This example is for illustration only.
It is November, so the US is on standard time (EST). A trader in New York wants to trade EUR/USD.
- At 21:00 ET, during the Asia session, EUR/USD barely moves, and the trader waits.
- At 03:00 ET, London opens and the pair becomes more active.
- From 08:00 ET, with London and New York both open, the pair is at its busiest. A US release at 08:30 ET moves it 40 pips in a few minutes.
- After 17:00 ET, the trader avoids opening new trades while spreads are wide around the rollover.
Knowing the sessions helped the trader focus on the hours when the pair moves most, and avoid the most expensive ones.
Risk disclosure: Trading involves significant risk of loss and is not suitable for all investors. Past performance is not indicative of future results. This brief is for information and education only. It is not investment advice, a recommendation or an instruction to buy or sell anything. The likely market reactions described here are our assessments of what could happen, not predictions, and markets can and often do move differently. Figures and forecasts come from third party sources and may change. Make your own decisions, and consider independent advice if you are unsure.
