Regional markets

Far East is the first one. Transactions at the market of conversion operations of dollar to the Japanese currency are most active here. "Vibrations" of rates of exchange at this time are often insignificant, but there are days, when currencies, in particular case dollar against a Japanese currency, accomplish dizzy "flights". Special occasions happen when the Central Bank of Japan conducts currency intervention. In Moscow at this time there is night and morning: ante meridiem in Moscow it is possible to work with Tokyo, to dinner – with Singapore.

Western Europe is the next. At 10.00 AM by Moscow time markets in the European financial centers Zurich, Frankfurt-on-Mein, Paris, Luxemburg are opened. However, truly strong motion of rate of exchange of dollar to basic currencies begins after 11.00 AM by Moscow time, when the London market is opened. It proceeds, as a rule, during two-three hours, whereupon, the dealers of the European banks leave for a lunch, and market activity slightly goes down.

North America follows first two regions. A situation comes alive again with opening of market in New York at 4.00 PM by Moscow time, when the dealers of the American banks begin morning work, and also the European dealers come back from lunch. Forces of the European and American banks are approximately equal, therefore "vibrations" of course on the average keep indoors outside ordinary European "vibrations". Nevertheless, currency dealers with impatience expect opening of the New York market to get fresh information about possible motion of course (in particular case, if the European market was "slow"). However, after closing of the European market (about 7.00 – 8.00 PM by Moscow time), the aggressive American banks, remaining in loneliness at the "thin" market, are able to cause sharp change of rate of exchange of dollar to other currencies.