[{"session":"Sydney","region":"Asia-Pacific","opens_gmt":"22:00","closes_gmt":"07:00","peak_hours":"00:00-05:00","major_pairs":["AUDUSD","NZDUSD","AUDJPY"],"avg_spread_eurusd":0.8,"volatility":"Low","notes":"Low liquidity, range-bound trading"},{"session":"Tokyo","region":"Asia","opens_gmt":"00:00","closes_gmt":"09:00","peak_hours":"01:00-06:00","major_pairs":["USDJPY","EURJPY","GBPJPY","AUDUSD"],"avg_spread_eurusd":0.5,"volatility":"Medium","notes":"Yen crosses most active, economic data releases 23:50 GMT"},{"session":"Tokyo-London Overlap","region":"Cross-Region","opens_gmt":"08:00","closes_gmt":"09:00","peak_hours":"08:00-09:00","major_pairs":["GBPJPY","EURJPY","EURUSD"],"avg_spread_eurusd":0.3,"volatility":"High","notes":"Brief but volatile: 1-hour window with both Asia and Europe active"},{"session":"London","region":"Europe","opens_gmt":"08:00","closes_gmt":"17:00","peak_hours":"08:00-13:00","major_pairs":["EURUSD","GBPUSD","EURGBP","FTSE","DAX"],"avg_spread_eurusd":0.2,"volatility":"High","notes":"Largest forex center, 43% of global volume. UK economic data at 08:30-09:30 GMT"},{"session":"London-NY Overlap","region":"Cross-Region","opens_gmt":"13:00","closes_gmt":"17:00","peak_hours":"13:00-16:00","major_pairs":["EURUSD","XAUUSD","GBPUSD","SP500"],"avg_spread_eurusd":0.2,"volatility":"Very High","notes":"Most liquid period. US data 13:30-15:00 GMT. Gold especially active."},{"session":"New York","region":"Americas","opens_gmt":"13:00","closes_gmt":"22:00","peak_hours":"13:00-17:00","major_pairs":["EURUSD","USDJPY","USDCAD","WTI","SP500"],"avg_spread_eurusd":0.2,"volatility":"High","notes":"US economic data 13:30 GMT. Second largest session. Equities and commodities active."}]