Sydney Session

The Sydney session opens the forex trading week and each new trading day. It begins around 21:00 or 22:00 GMT on Sunday, depending on daylight saving, and covers Australian and New Zealand hours before Tokyo joins a few hours later. Activity centres on AUD and NZD pairs, regional data releases and the early pricing-in of anything that happened over the weekend. Liquidity is at its thinnest here, so spreads are usually wider and price can move sharply on modest orders. The Sunday open is the moment weekend gaps appear, which is why traders who hold positions over the weekend pay attention to it. Ranges normally stay narrow until Asian volume builds.