Hi,
I have been trying to figure out what determines the opening hours of the forex market.
EDIT: By "opening hours" I am referring to the weekend close/open times.
When I search I find this:
The market is open 24 hours a day from 5pm EST on Sunday until 4pm EST Friday. (Investopedia.com)
So that suggests Eastern Standard Time is the driver (New York).
However earlier this week the Forex market opened one hour later than the previous week (namely the 30/10/16) yet Daylight Savings time has not been enforced upon Eastern Standard Time yet, that's not till next week (6/11/16). Instead Europe had DST enforced over the weekend where they rolled back to run on GMT+1 (central Europe).
So I am totally confused. The reference time in the definition uses EST. But the market opening changed when Europe/UK moved their clocks for Daylight Saving.
Can anyone clear this up for me please? What is the "true" reference time.
Thank you very much.
I have been trying to figure out what determines the opening hours of the forex market.
EDIT: By "opening hours" I am referring to the weekend close/open times.
When I search I find this:
The market is open 24 hours a day from 5pm EST on Sunday until 4pm EST Friday. (Investopedia.com)
So that suggests Eastern Standard Time is the driver (New York).
However earlier this week the Forex market opened one hour later than the previous week (namely the 30/10/16) yet Daylight Savings time has not been enforced upon Eastern Standard Time yet, that's not till next week (6/11/16). Instead Europe had DST enforced over the weekend where they rolled back to run on GMT+1 (central Europe).
So I am totally confused. The reference time in the definition uses EST. But the market opening changed when Europe/UK moved their clocks for Daylight Saving.
Can anyone clear this up for me please? What is the "true" reference time.
Thank you very much.
What's it all about? It's all about money.