There is no officially designated starting time to the trading
day or week, but for all intents the market action kicks off
when Wellington, New Zealand, the first financial center west
of the international dateline, opens on Monday morning local
time. Depending on whether daylight saving time is in effect in
your own time zone, it roughly corresponds to early Sunday
afternoon in North America, Sunday evening in Europe, and
very early Monday morning in Asia.
The Sunday open represents the starting point where currency
markets resume trading after the Friday close of trading in
North America (5 p.m. Eastern time). This is the first chance
for the forex market to react to news and events that may have
happened over the weekend. Prices may have closed New York
trading at one level, but depending on the circumstances, they
may start trading at different levels at the Sunday open.
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