On some websites, such as CNBC and MSN Money, they show the currency and show what the "Previous close" was. (example: EUR/USD 1.41032. Previous close: 1.39294) What is the previous close TIME? If the forex market is open 24/5 at what time in the day or night, do they use for the previous close? (I was thinking possibly at around midnight or something, but I wanted an answer from someone who knew) Thank you!
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July 4th, 2009 at 7:06 am
The daily closes on a forex quote is made at different times depending on the company and country. There is no definite rule on when the technical day end happens. Most sites however will use 00:00 GMT as the end of day however many US brokers quote the 5PM ET as their close.
July 4th, 2009 at 7:06 am
You’re right - there is no consensus on when the forex market "closes". They’re just trying to place stock market nomenclature on forex markets to make them a little more understandable…