The American session
New York Trading Session
13:00 - 22:00 UTC
Quick Answer
The New York forex trading session runs from 13:00 to 22:00 UTC and is the second-largest session globally. It accounts for approximately 19% of daily FX turnover, overlaps with London for four hours of peak volatility, and is driven by USD flows, major US economic releases, and the deepest liquidity available outside of London itself.
Session Window (UTC)
13:00 - 22:00 UTC
Session Characteristics
Volatility
Very High
Liquidity
Very High
Global FX Share
~19% of daily global FX turnover
Key Participants
US investment banks (JPMorgan, Citi, Goldman), Federal Reserve policy activity, hedge funds, pension funds, Wall Street market makers
Best Currency Pairs to Trade
| Pair | Why | Avg Range |
|---|---|---|
| EUR/USD | Liquidity remains exceptional through New York hours — especially during the London/NY overlap (13:00-17:00 UTC). | 60-100 pips |
| USD/JPY | US Treasury yields drive USD/JPY sharply during NY hours; Fed speakers and yield-driven flows create powerful trends. | 55-85 pips |
| GBP/USD | Overlap with London produces the highest-volatility window of the day for cable. | 85-140 pips |
| USD/CAD | Canada and US share data calendars (NFP coincides with Canadian jobs); oil-driven flows add further movement. | 50-80 pips |
| USD/CHF | Risk-on/risk-off flows during NY hours and Fed policy announcements drive CHF pairs. | 50-75 pips |
Average ranges are typical intraday high-minus-low measurements during the session and vary with market conditions.
Best Strategies for the New York Session
News Trading on US Data
NFP, CPI, FOMC, and GDP releases create the biggest intraday moves of the week. Experienced news traders pre-position or trade the aftermath once spreads normalise.
London Close Reversals
At 16:00-17:00 UTC, European desks close positions and reverse intraday moves can occur. This is a classic mean-reversion window for traders watching London session extremes.
Wall Street Open Momentum (14:30 UTC)
The equity market open adds a second wave of institutional flow. USD/JPY, EUR/USD, and index CFDs often accelerate during this 30-minute window.
Fed Speaker Reactions
US central bank officials speak frequently during NY hours. Build watchlists of speakers and expect volatility around their remarks.
Key Economic Releases
| Time (UTC) | Event | Impact |
|---|---|---|
| 12:30 | US CPI / PPI / Retail Sales / NFP | High |
| 13:30 | Canadian Employment / CPI | High |
| 14:00 | US Consumer Confidence | Medium |
| 14:30 | US Crude Oil Inventories | Medium |
| 18:00 | FOMC Rate Decision | High |
| 18:30 | FOMC Press Conference | High |
Historical Average Pip Ranges
The average pip ranges shown in the pairs table above are based on typical intraday high-minus-low measurements during the New York session across major EU-regulated broker feeds over the most recent 90 trading days. Actual ranges vary meaningfully with volatility regime, central bank cycles, and news calendar.
Why Trade the New York Session?
New York offers the highest volatility and the biggest single-release moves of any session. It is ideal for traders focused on USD pairs, major news events, and directional momentum. Combined with the London overlap, it provides the single largest sustained liquidity window of the trading day.
Recommended Brokers for the New York Session
Deep-liquidity ECN brokers with multiple tier-1 liquidity providers execute best during NY hours, especially around US data releases when slippage otherwise becomes a real cost.
Other Trading Sessions
Frequently Asked Questions
What hours is the New York forex session open?
The New York forex trading session runs from 13:00 - 22:00 UTC.
What are the best pairs to trade during the New York session?
The most active pairs during the New York session are EUR/USD, USD/JPY, GBP/USD, based on liquidity and typical intraday range.
How volatile is the New York session?
Volatility during the New York session is generally very high, with liquidity rated very high. The session accounts for ~19% of daily global FX turnover.
What strategies work best in the New York session?
News Trading on US Data: NFP, CPI, FOMC, and GDP releases create the biggest intraday moves of the week. Experienced news traders pre-position or trade the aftermath once spreads normalise. London Close Reversals: At 16:00-17:00 UTC, European desks close positions and reverse intraday moves can occur. This is a classic mean-reversion window for traders watching London session extremes. Wall Street Open Momentum (14:30 UTC): The equity market open adds a second wave of institutional flow. USD/JPY, EUR/USD, and index CFDs often accelerate during this 30-minute window. Fed Speaker Reactions: US central bank officials speak frequently during NY hours. Build watchlists of speakers and expect volatility around their remarks.
Why trade the New York session?
New York offers the highest volatility and the biggest single-release moves of any session. It is ideal for traders focused on USD pairs, major news events, and directional momentum. Combined with the London overlap, it provides the single largest sustained liquidity window of the trading day.