last article we talk about Tokyo Trading Session and London Trading Session, and we would be hear about what is the effect of New York Trading Session
The New York Trading Session
The New York Trading Session is one of the world’s financial center and is always supervised by the market.
Why New York Trading Session is so important?
New York was the financial center of the world. There is a Wall Street where many banks and financial institutions are seasoned world centered. So, market activity in the New York Trading Session is also very excited, as it is in session.
read this one too : London Trading Session
Here are some of the characteristics of the New York trading session you need to know:
Because of the overlap with the session of the European experience, early in the trading session in NNew York Trading Session there is still a fairly high liquidity.
Most of the economic reports was released almost simultaneously with the start of the session in New York. And we must remember lest the approximately 85% trading involving u.s. dollars. So the market will always move whenever the U.S. economic news was released.
So European markets are closed, which coincided with the second half of the trading session New York, liquidity and volatility tends to subside 4. There is only a slight movement that caught on Friday afternoon, because Asian Traders chose to spend his time gathered at the karaoke place and bar. While European traders would rather spend his time in the pub and nobar matches.
In addition, there is the possibility Friday of going reversal in the second half of the session. The cause is US traders decided to cover the position earlier in the weekend in order to reduce the pressure due to the news that emerged ahead of the holiday.
Related Post : Tokyo Trading Session
what pair is good to be trade in New York Trading Session?
We need to take note that there will be a lot happening at a time when the New York Trading Session and European progress. Imaginable, all banks and multinational companies are busy answering the phone. We can use this moment to trade with any currency. Although it is better to be safe, we use the major and minor currencies and avoid exotic currencies.
On the other hand, because the US dollar is often used in most transactions, the trader can be sure all will put their attention on the release of the US data. Either does the release of the data is positive or negative, is certain the US data releases will be able to shake world markets.
read another article forex : Forex Strategies
that is at a glance about New York Trading Session.