Why is the market at its peak around 3:30 am EST (New York time) and usually going the other way around 4:30 am? for London market of course
I noticed that today after the US market closed, the GBP/USD was slowing going up and then up to its peak around 3:40 am. and then it went down like the news (US CPI) was just released around 4:30 am?
It usually reverses to the other direction again around 7 am.
The question is that I just don't understand why the market does that?
Did all the news traders just decide to jump in around that time?
It's not Lunch break either in London (just kidding)
And also, I was just wondering how long the news' effect last on the market? I know it depends on how important of each particular news, but any ideas?
I noticed that today after the US market closed, the GBP/USD was slowing going up and then up to its peak around 3:40 am. and then it went down like the news (US CPI) was just released around 4:30 am?
It usually reverses to the other direction again around 7 am.
The question is that I just don't understand why the market does that?
Did all the news traders just decide to jump in around that time?
It's not Lunch break either in London (just kidding)
And also, I was just wondering how long the news' effect last on the market? I know it depends on how important of each particular news, but any ideas?