The global Forex market requires utilizes GMT (Greenwich Mean Time), which is the time at Greenwich, England. GMT is used as the basis for standard time throughout the world and is therefore referred to as world time. Global economic events, such as unemployment rates and interest rate decisions, are scheduled according to GMT. As an example, when the U.S. releases an economic report at 8:30 AM Eastern, it is 13:30 GMT (or 1:30 PM) in London, England. In a nutshell, GMT is a 24-hour clock from 0:00 to 24:00. Familiarity with GMT will help keep oneself aware of when certain trading opportunities may become advantageous, coinciding with world economic events.
Most Active - The most active world trading occurs from the opening of the European market until the unfolding of U.S. economic news. This is represented by the light green section on the chart. One reason this is the most active trading period is that it is when the highest number of world markets, banks, and financial institutions are opened.
Tomorrow / Yesterday - For a matter of convenience, an imaginary line known as the International Date Line is used to separate the Earth into two hemispheres, East and West. Based on the international date line, a trader in the New York may be trading one day apart from a trader in Sydney, Australia. In this instance, we highlighted in light blue the time-periods referred to as Tomorrow. Similarly, we highlighted in light brown the time-periods categorized as Yesterday.
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