Forex role over times for Carry Trades

[kiwibotts]

Hi,
I am wondering what time Forex roles over each night and the carry trade interest is paid?
Is it midnight GMT?
Would appreciate any help

Paul

 

[Rhody Trader]

In the retail forex market it can vary. Many brokers use 5pm NY, which would be 21:00 or 22:00 GMT, depending on the time of year. Some, however, base it on GMT or on the end of their own regional timeframe. You need to check with the broker you're using to be sure.

 

[meanreversion]

As Rhody points out, most majors become "new value" at 5pm EST (EUR/USD, GBP/USD). However, NZD/USD switches at 1pm EST and AUD/USD at 3pm (I think). This is on account of their time zones being so far forward.

This is really just a technicality, it shouldn't have any impact or influence on a trading strategy.