Over the next five weeks, beginning this weekend, Daylight Saving Time Changes will affect forex markets around the world, as various countries on various dates, switch from Daylight Saving Time to Standard Time, or vice versa.
During this period, you might see the opening and closing times of the foreign markets you trade change by one or two hours, depending on where you are located and which foreign markets you are following.
This may, or may not, have a significant impact on your trading, depending on the time-frame you are trading. Generally, the shorter your time-frame (scalping or intraday trading, for example) the more important it will be for you to stay in sync with the trading hours in your chosen markets.
Here is the schedule of changes that will occur over the next 5 weeks:
Daylight Saving Time Changes in the major forex markets
September 29 — New Zealand will begin southern hemisphere Daylight Saving Time (DST)
October 6 — southeastern Australia (Sydney, Melbourne, Canberra, Hobart, etc.) will begin DST
October 27 — the U.K., Ireland, and all of eastern and western Europe will return to Standard Time
November 3 — the U.S., Canada, and northern Mexico will return to Standard Time
Significant markets which do not observe Daylight Saving Time — listed in order according to forex market size (figures in parentheses indicate daily turnover (trading volume) in billions of USD — source BIS 2022 Triennial Survey)
Singapore (929), Hong Kong (694), Japan (433) , and China (153)
Other markets which do not observe Daylight Saving Time — listed according to size
Korea (68), Russia (NA), United Arab Emirates (66), India (53), Taiwan (33),
Brazil (21), Turkey (18), South Africa (16), Malaysia (16) and Thailand (15)
See post #2 for Notes on DST, and on time zones.
See post #3 for details of the time changes which will occur in New Zealand this weekend.
A couple of years ago, proposals to abolish Daylight Saving Time were being actively put forward in both the US and the EU. But lately, interest in that issue has faded. So, unless and until governments resume active discussions once again, there is nothing new to report or talk about here.
Selected TIME ZONES with abbreviations and UTC equivalents
In the eastern US and Canada –
EST – Eastern Standard Time (UTC-5)
EDT – Eastern Daylight Time (UTC-4)
In the UK –
GMT – Greenwich Mean Time (standard time in the UK) (UTC+0)
BST – British Summer Time (UTC+1)
In western Europe –
IST – Irish Standard Time (in EU-member Ireland) (UTC+0)
BST – British Summer Time (in Ireland) (UTC+1)
WET – Western European Time (standard time in Portugal) (UTC+0)
WEST – Western European Summer Time (in Portugal) (UTC+1)
In central Europe –
CET – Central European Time (standard time) (UTC+1)
CEST – Central European Summer Time (UTC+2)
In eastern Europe –
EET – Eastern European Time (standard time) (UTC+2)
EEST – Eastern European Summer Time (UTC+3)
In Asia (these countries do not observe daylight saving time) –
MSK – Moscow Standard Time (in western Russia) (UTC+3)
IST – India Standard Time (UTC+5½)
SGT – Singapore Time (UTC+8)
HKT – Hong Kong Time (UTC+8)
CST – China Standard Time (UTC+8)
PHST - Philippine Standard Time (UTC+8)
KST - Korea Standard Time (UTC+9)
JST – Japan Standard Time (UTC+9)
In southeastern Australia –
ACST — Australian Central Standard Time (UTC+9½)
ACDT — Australian Central Daylight Time (UTC+10½)
AEST – Australian Eastern Standard Time (UTC+10)
AEDT – Australian Eastern Daylight Time (UTC+11)
In New Zealand –
NZST – New Zealand Standard Time (UTC+12)
NZDT – New Zealand Daylight Time (UTC+13)
Worldwide –
UTC – Coordinated Universal Time (not actually a time zone, it is the international baseline against which all time zones are defined)
Note that Irish Standard Time and India Standard Time use the same abbreviation – IST. However, their UTC equivalents are different.
On Sunday, September 29, New Zealand will begin southern hemisphere Daylight Saving Time.
In New Zealand, the NZST time zone (UTC+12) will change to NZDT (UTC+13)
Clocks in New Zealand will be turned forward by one hour, prior to the opening of the forex market on Monday morning, September 30.
For traders in New Zealand: The forex trading session in New Zealand will not change. But, starting September 30, the forex trading session in every other market will begin and end one hour later than previously.
For traders in all other locations: The only change will be that, starting September 30, the forex trading session in New Zealand will begin and end one hour earlier than previously.
The next Daylight Saving Time change will occur in one week, when s.e. Australia will begin DST.
Excellent article, thank you.
May I mention as I have found to assist in this particular discussion:
worldtimezone,com\forex24
(edited to post, please websearch)
It is a map of the very thing, time zones of the stock exchange times. I zoomed this to fit my screen. What the time is for the place is their current time.
On Sunday, October 6, southeastern Australia will begin Daylight Saving Time.
The region referred to here as southeastern Australia comprises the states of New South Wales (Sydney, etc.), Victoria (Melbourne, etc.), Australian Capital Territory - ACT (Canberra, etc.), South Australia (Adelaide, etc.), and the island of Tasmania (Hobart, etc.). Geographically, southeastern Australia comprises a little less than a third of the Australian continent.
In New South Wales, Victoria, ACT, and Tasmania the AEST time zone (UTC+10) will change to AEDT (UTC+11).
In South Australia, the ACST time-zone (UTC+9½) will change to ACDT (UTC+10½).
Clocks in these states will be turned forward by one hour, prior to the opening of the forex market on Monday morning, October 7.
For traders in southeastern Australia, the forex trading session in Sydney will not change, but the trading session in every other market will begin and end one hour later than previously, starting on Monday morning.
For traders in the rest of Australia, and in all other countries, the only change will be that the forex trading session in Sydney will begin and end one hour earlier than previously, starting on Monday morning.
The states of Queensland (Brisbane, etc.), Northern Territory (Darwin, etc.), and Western Australia (Perth, etc.) do not observe Daylight Saving Time.
The next Daylight Saving Time change will occur in 3 weeks, at which time the U.K. and Europe will end Summer Time (DST) and will return to Standard Time.