New York trading session
New York market accounts approximately 19% of the total trade.
USD is the currency of the world, nearly 90% of trade will always involve dollars in it.
- There is a high liquidity in the morning (early trade), because of overlapping with the European session.
- Important economic news in the USA have an enormous power to move prices.
- After the European market is closed, liquidity and volatility also tends to decrease.
- On Friday, trade gets calms down drastically, as traders in Asia and Europe are preparing for the holiday weekend.
- Some reversal may also be common next to the afternoon.
- Some traders do not want to leave the position open to avoid things or news that may occur at the weekend.