The Asian session
The Asian session starts at 22:00 GMT when Sydney opens. Since only Sydney is trading at this time, the volumes that are traded are relatively small and therefore the price changes are likely to be minimal compared to other sessions.
At 00:00 GMT, Tokyo opens and the
trading volume increases. Australia and Japan are relatively small markets compared to
Europe and the US
and the price changes are still relatively moderate. Spreads on major pairs are
likely to be slightly higher during these times and the liquidity will not be
as high as they are in the European and US session.
During the Asian
session, the Australian dollar, the New Zealand dollar and the Japanese yen are traded the most,
because these are the domestic currencies of the major markets that are open at
that time. The most traded currency pairs that are traded during this session
are the AUD/USD, AUD/JPY, AUD/NZD, JPY/USD, NZD/JPY and NZD/USD.
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