Best Forex Pairs For The New York Session

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The best FX pairs to trade during the New York session are:

GBP/USD (British Pound/US Dollar)
EUR/USD (Euro/US Dollar)
USD/JPY (US Dollar/Japanese Yen)
USD/CAD (US Dollar/Canadian Dollar)
AUD/USD (Australian Dollar/US Dollar)

The New York Forex trading session is known for its high liquidity and active market conditions. It often overlaps with the London session, providing increased trading opportunities due to high market volumes. If you’re looking to make the most of the New York session, choosing the right currency pairs and understanding key market dynamics is essential. Here’s an in-depth guide to the top pairs and trading strategies to maximize your potential during the New York session.

Best FX pairs to trade during the New York session

GBP/USD (British Pound/US Dollar)

The GBP/USD pair, known for its volatility, is highly active during the New York session, especially when U.S. and U.K. economic data releases coincide. This pair offers substantial daily trading volume, meaning tighter spreads and higher liquidity. It’s an attractive option for both day traders and swing traders looking to capitalize on price movements. To trade GBP/USD effectively, keep an eye on interest rate announcements, GDP figures, and employment reports from both countries, as these can trigger significant price changes.

EUR/USD (Euro/US Dollar)

As the world’s most traded currency pair, EUR/USD benefits from exceptional liquidity and generally low spreads, making it popular among traders of all experience levels. The pair is heavily influenced by economic indicators and announcements from the U.S. Federal Reserve and the European Central Bank. During the New York session, particularly when it overlaps with London, the EUR/USD can show increased volatility. For effective trading, focus on key Eurozone and U.S. economic reports, as well as major geopolitical developments that may impact the currency value.

USD/JPY (US Dollar/Japanese Yen)

The USD/JPY pair is well-suited for the New York session because of its typically high liquidity and strong correlation with U.S. Treasury yields. The pair responds to U.S. economic data, interest rate expectations, and risk sentiment within global financial markets. While it’s generally less volatile than other pairs, USD/JPY can show considerable movement with major U.S. economic releases, making it a reliable choice for traders seeking steady opportunities. Traders should watch for indicators like U.S. employment data and inflation reports, which can impact both the pair’s direction and volatility.

USD/CAD (US Dollar/Canadian Dollar)

USD/CAD is a unique pair during the New York session because of Canada’s reliance on oil exports. The Canadian dollar (CAD) often moves in tandem with oil prices, providing a dual approach to trading for those interested in currency and commodity markets. This pair is highly responsive to economic data from both Canada and the U.S., including employment figures, GDP, and crude oil inventories. Because of the close trade relationship between the two countries, USD/CAD can be a rewarding pair for traders familiar with commodity price trends, especially oil.

AUD/USD (Australian Dollar/US Dollar)

Although the AUD/USD pair is more active during the Asian session, it can also present significant trading opportunities during New York hours. U.S. economic releases often drive the pair, creating volatility as traders react to updated data. AUD/USD can be influenced by factors such as U.S. interest rate decisions, risk sentiment, and major U.S. economic reports. Traders should keep an eye on global market trends, as the Australian dollar is often considered a risk-sensitive currency, responding quickly to shifts in market sentiment.

Why trade during the New York session?

The New York session offers several advantages for Forex traders:

High liquidity. The overlap between the New York and London sessions increases market liquidity, allowing for quicker trade execution and tighter spreads on major currency pairs.
Volatility. The New York session is known for significant price movements, making it an ideal time for short-term traders looking to capture market fluctuations.
Economic announcements. Many impactful economic announcements are released during the New York session, including U.S. non-farm payrolls, retail sales data, and interest rate decisions, providing opportunities for traders to react to new information.
Best conditions for scalpers and day traders. Due to high market activity, scalpers and day traders can take advantage of quick, frequent trades, benefiting from tight spreads and strong price movements.

Tips for trading during the New York session

To maximize your success during the New York session, keep these tips in mind:

Leverage the overlap with the London session. The first few hours of the New York session coincide with the London session’s end, creating an overlap with high trading volumes. This period often provides the best conditions for trades due to increased liquidity and volatility.
Monitor economic calendars. U.S. economic reports, such as GDP data, employment numbers, and interest rate decisions, often move the market during the New York session. Being aware of key releases can help you anticipate potential price shifts in popular currency pairs.
Use stop-loss and take-profit orders. Given the potential for volatility, using risk management tools like stop-loss and take-profit orders can help secure profits and protect against unexpected losses.
Follow the news. Geopolitical events, economic policy changes, and even unexpected global events can impact the U.S. dollar and other currency pairs heavily traded during the New York session. Staying informed will help you make timely decisions.

Choosing the right broker for the New York session

Selecting the Forex broker is key to accessing the best trading conditions. Look for brokers that offer:

Low fees and tight spreads. Lower costs per trade can make a significant difference for frequent traders.
High-speed execution. Quick execution is crucial when trading during high-volatility periods.
Regulation and security. Trade with brokers regulated by reputable authorities to ensure fund safety and reliable service.
Multiple currency pair options. Brokers that provide a broad selection of currency pairs can help diversify your trading strategy and adapt to market trends.

Best Forex brokers
	Min. deposit, $	Max. leverage	Min Spread EUR/USD, pips	Max Spread EUR/USD, pips	Open an account
Plus500	100	1:300	0,5	0,9	Open an account Your capital is at risk.
Pepperstone		1:500	0,5	1,5	Open an account Your capital is at risk.
OANDA		1:200	0,1	0,5	Open an account Your capital is at risk.
FOREX.com	100	1:50	0,7	1,2	Study review
Interactive Brokers		1:30	0,2	0,8	Open an account Your capital is at risk.

Start with a solid plan

As someone who has spent years in the trading world, I can tell you that trading during the New York session is an exciting, challenging, and rewarding endeavor, but it requires focus and discipline. This session, especially during its overlap with London, offers some of the best opportunities for liquidity and price movements, but it's easy to get swept up in the high volatility if you don’t come prepared.

My best advice? Start with a solid plan. Decide in advance on the currency pairs you want to trade — such as GBP/USD or USD/CAD, which are particularly active in the New York session — and have a strategy tailored to each. Watch the news closely. The New York session is packed with economic announcements that can shift the market quickly, and having a pulse on these events gives you a serious edge. If you’re tracking USD/CAD, for instance, keep an eye on oil prices and economic data from both the U.S. and Canada.

Conclusion

The New York session is a dynamic trading period with abundant opportunities for traders who prefer high liquidity and volatility. By focusing on pairs such as GBP/USD, EUR/USD, USD/JPY, USD/CAD, and AUD/USD, traders can capitalize on price movements influenced by economic announcements and market sentiment shifts. Equipped with the right strategies, insights, and tools, traders can navigate the New York session effectively and optimize their Forex trading potential.

FAQs

I’m new to Forex trading. Should I avoid trading during the New York session?

No, beginners can trade during the New York session, but it’s wise to start with smaller trades or a demo account to get comfortable with the volatility.

What’s the best time for trading?

The best time is typically the overlap with the London session, which occurs from 8 a.m. to 12 p.m. EST, when liquidity and volatility are highest.

I live outside the U.S. How do currency pairs traded in the New York session affect me?

The impact depends on the pairs you’re trading. Even if you’re outside the U.S., major pairs with the USD often show significant movement, affecting your trades.

I noticed USD/JPY has less volatility than other pairs in the New York session. Is it a safer choice?

Yes, USD/JPY generally has steadier movements, making it a more stable choice for traders looking to avoid high volatility during this session.

Team that worked on the article

Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.

Also, Oleg became a member of the National Union of Journalists of Ukraine (membership card No. 4575, international certificate UKR4494).

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Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.

As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).

Leverage

Forex leverage is a tool enabling traders to control larger positions with a relatively small amount of capital, amplifying potential profits and losses based on the chosen leverage ratio.

Trade Execution

Trade execution is knowing how to place and close trades at the right price. This is the key to turning your trading plans into real action and has a direct impact on your profits.

Economic indicators

Economic indicators — a tool of fundamental analysis that allows to assess the state of an economic entity or the economy as a whole, as well as to make a forecast. These include: GDP, discount rates, inflation data, unemployment statistics, industrial production data, consumer price indices, etc.

CFD

CFD is a contract between an investor/trader and seller that demonstrates that the trader will need to pay the price difference between the current value of the asset and its value at the time of contract to the seller.

Day trader

A day trader is an individual who engages in buying and selling financial assets within the same trading day, seeking to profit from short-term price movements.

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