The forex market operates around the clock, five days a week, from 5 PM EST on Sunday in Sydney until 5 PM EST on Friday in New York. This continuous trading cycle reflects the global nature of the market, with trading sessions overlapping across different financial centers worldwide: Sydney, Tokyo, London, and New York.

Each trading session has unique characteristics. The Asian session, which starts in Sydney and overlaps with Tokyo, is known for its quieter market conditions and lower volatility compared to the other sessions. The European session, which begins in London, is characterized by increased trading activity and higher volatility as European markets open. The US session, which starts in New York, is the most active and volatile, particularly during the overlap with the European session. 

The overlap between the London and New York sessions is often the most liquid period of the day, providing traders with more opportunities to execute trades and tighter spreads. Understanding these trading hours and their impact on market liquidity and volatility helps traders plan their strategies and optimize their trading schedules.