Right as European traders are getting back from their lunch breaks, the U.S. session begins at 8:00 am EST as traders start rolling into the office.
Just like Asia and Europe, the U.S. session has one major financial center that the markets keep their eyes on.
We’re talking of course, about the “City That Never Sleeps!
New York City baby! The concrete jungle where dreams are made of!
About 17% of all forex transactions happen in New York.
Some traders also refer to the New York session as the “North American” trading session.
That’s because aside from New York, there are major financial centers open in North America as well, such as Toronto and Chicago.
Below is a table of the New York session pip ranges of the major currency pairs.
These pip values were calculated using averages of past data. Take note that these are NOT ABSOLUTE VALUES and can vary depending on liquidity and other market conditions.
Also, the session range for EUR/CHF has not been included since the Swiss franc has been pegged to the euro at 1.2000 during the period. Here are some tips you should know about trading during the New York session:
Take note that there will be a TON of liquidity as both the U.S. and European markets will be open at the same time.
You can bet that banks and multinational companies are burning up the telephone wires.
This allows you to trade virtually any pair, although it would be best if you stuck to the major and minor pairs and avoid those weird ones.
Also, because the U.S. dollar is on the other side of the majority of transactions, everybody will be paying attention to U.S. data that is released.
Should these reports come in better or worse than expected, it could dramatically shake up the markets, as the dollar will be jumping up and down.
Confused about which sessions start when? We made the next section just for you!