Forex trades 24/5, but liquidity doesn't. From a Canadian (Eastern Time) perspective, the day has a clear shape.
Sessions in Eastern Time
| Session | ET hours | Character |
|---|---|---|
| Sydney/Tokyo | ~5pm–4am | Quieter; JPY and AUD pairs most active |
| London | ~3am–12pm | Highest overall volume |
| New York | 8am–5pm | USD pairs, North American data releases |
The golden window: 8am–12pm ET
The London–New York overlap is when spreads are tightest, moves are cleanest and most economic data drops (8:30am ET for both US and Canadian releases). If you can only trade four hours a day, these are the four — conveniently, they're a Canadian morning.
Hours to avoid
- 5pm ET — the daily rollover; spreads spike as liquidity resets
- Friday afternoon — thinning books ahead of weekend gap risk
- Sunday open — gaps and wide spreads until Tokyo gets going
Related broker reviews
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USD/CAD traders take note
The loonie moves on 8:30am ET data (Canadian jobs, CPI) and on oil — WTI inventories at 10:30am Wednesday regularly move the pair. More in our USD/CAD guide.