Since the exchange of currencies is made by real people like you and me who trade for various financial institutions and for its own account, it is useful to know when and where market participants operate. The currency market has the following major sessions (London time):
Working hours of the major financial centers
Why do we need this information? As I said, the prices in the forex market are moved by real people who go to work in large financial institutions. Most banks have branches around the world, but most of the time this fact is not so essential. During relatively normal market conditions, liquidity and order flow is determined by the standard working hours of the major forex market centers and if you keep this in mind, you will never be wrong.
In the table below, you can see the information about the proportion of the daily turnover by country (data BIS):
Besides the times of opening and closing of the major financial centers, very important are the so-called fixings that are used primarily by banks for expirations of options and forwards. The most important of these are the following: