The Asian session is the first major center in the world with open markets, hence the beginning of the first important meeting in the currency market opens at 23 Italian on Sunday. Only about 7.6% of transactions go through the trading desk in Tokyo, so it is clear that the Asian session was the least active of the three main sessions. The most traded currency pairs during this session are those that rely on the yen, of course, with relatively low trade on other currency pairs. And ‘for this reason that many hedge funds and many large banks usually utilizzanno this session to try to push the market to their favor.
The next negotiating session that starts is the European one, which starts with the beginning of working in London. It should be noted that while New York is considered by many to be the largest financial center in the world, London is still the main actor in the foreign exchange market, with over 32% of all transactions that take place there. Before the introduction of the euro, there were more than a dozen other currency exchange rates that were a necessity, both for companies and individual persons. The London time is also very well positioned in terms of hours of work, both for the Eastern and Western economies. The high activity during the London session means that the currency pairs are also more volatile.
Finally, there is the U.S. session that begins with the opening of the New York Stock Exchange. In terms of volume of forex trading, New York is second with about 19% of all transactions that pass through the Dealing Rooms of the American city. The most active for the forex market is when both London and New York are open. At this time there is usually the highest market volatility.