<p>The New York session is the second most active period in the Forex market, following the London session. It overlaps with the latter, providing traders with an extended period of high liquidity and volatility.</p>

<h2>How It Works</h2>
<p>The New York session begins at 08:00 EST (13:00 GMT) and ends at 17:00 EST (22:00 GMT). During this time, the major U.S. banks and institutions are open, driving activity in the market. The session is particularly influential for USD-based pairs, such as EUR/USD and GBP/USD.</p>
<p>Key events during this session include U.S. economic data releases, which can significantly impact the market. Some of the most closely watched releases include Non-Farm Payrolls, ISM Manufacturing PMI, and Consumer Confidence Index.</p>

<h2>Why It Matters</h2>
<p>The New York session matters for several reasons. Firstly, it provides traders with an opportunity to trade during peak market hours, when liquidity is highest and spreads are typically narrowest. This can lead to more favorable trading conditions.</p>
<p>Secondly, the session's overlap with the London session can amplify market movements, creating potential for significant price swings. This can present both opportunities and risks for traders.</p>
<p>Lastly, the New York session is crucial for USD-based pairs, as it coincides with the most active period for USD trading. Therefore, traders focusing on these pairs should pay particular attention to this session.</p>