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What are forex trading sessions in Nigeria local time?
The trading week in forex
What are the forex trading hours in Nigeria local time? Before we answer this question, we need to look at a typical trading week in the forex markets. In local time, the forex market opens in Sydney, Australia at 7am Monday morning and closes in New York, USA at 5pm Friday night.
This results in an overextended trading week with Sydney being 14 hours ahead of New York.
Picture 1. Three-market session overlap. Image by Sabrina Jiang © Investopedia 2020
The three main time zones
We start the trading week in Sydney Australia. This time zone is commonly known as the APAC trading session. APAC stands Asian Pacific. The main countries whose currencies are traded within this period are Australia (AUD), China (CNY), India (INR), Japan (JPY), New Zealand (NZD), and Thailand (THB).
Then we have the European session. The main countries whose currencies are traded within this period are Great Britain (GBP), Europe (EUR), Switzerland (CHF), Norway (NOK), Sweden (SEK) and Denmark (DKK).
And lastly, we have the US trading session. The main countries whose currencies are traded within this period are USA (USD), Canada (CAD) and Mexico (MXN).
Picture 2. Forex trading
APAC time zone in Nigeria
Sydney trading hours in local time are 7.00am to 4.00pm. NG 10.00pm to 7.00am
Tokyo trading hours in local time are 9.00am to 6.00pm. NG 1.00am to 10.00am
European time zone in Nigeria
European trading hours in local time are 7.00am to 4.00pm. NG 6.00am to 3.00pm
London trading hours in local time are 8.00am to 5.00pm. NG 8.00am to 5.00pm
US time zone in Nigeria
US trading hours in local time are 8.00am to 5.00pm. NG 1.00pm to 10.00pm
On a final note, it’s worth remembering that volatility has no schedule. This means that markets could become active and erratic at any time of the day.
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